IEA Chief Warns April Energy Supply Losses Will Double March

Fatih Birol warned global energy supply losses would double in April compared to March.

“Istanbul AA / Paris / Ümit Dönmez The current global energy crisis is more severe than the oil shocks of 1973 and 1979, as well as the 2022 gas shortage linked to Russia's war in Ukraine, said Fatih Birol, the head of the International Energy Agency, on Wednesday”

Anadolu Ajansı

The loss of 12 million barrels per day exceeds the shocks of 1973 and 1979.

Anadolu Ajansı

The IEA released 400 million barrels from reserves, but Birol said the real cure is reopening the Straits of Hormuz.

Reopening the Strait of Hormuz emerged as a consensus priority.

Asia was feeling the brunt, but Europe would face disruptions by April or early May.

BFM

The IEA did not rule out energy rationing in several countries.

Birol warned inflation would rise and growth would slow, especially in emerging economies.

“The global energy crisis threatens to worsen in April, according to Fatih Birol, the executive director of the International Energy Agency (IEA)”

Business People

Energy rationing was a real possibility.

Global energy markets are totally interdependent, with regional shortages spilling over.