IEA Chief Warns World Faces Biggest Energy Security Threat in History
The head of the International Energy Agency (IEA), Fatih Birol, has warned that the world is confronting what he described as “the biggest energy security threat in history,” as the conflict involving Iran and the continued closure of the Strait of Hormuz shake global markets. Speaking virtually at an industry forum in Singapore, Birol said the market has already lost around 13 million barrels of oil per day, while major disruptions are also affecting other essential commodities.
According to him, the combination of war in the region and the blocked strategic waterway could trigger “the largest energy crisis we have ever faced....