Fatih Birol, Director of the International Energy Agency (IEA), said that affected by the war between the United States and Israel, the world is facing the most serious energy crisis in history.Birol once said that the severity of the current global energy crisis“Higher than 1973, 1979 and 2022 (energy crises) combined”, and predicts that this crisis will accelerate the development and promotion of renewable energy, nuclear energy, and electric vehicles. "This is truly the greatest crisis in history."
About 20% of the world's crude oil and liquefied natural gas are transported through the Strait of Hormuz. After the outbreak of the war between the United States and Israel, shipping in the Strait was blocked, causing violent fluctuations in the energy market.
In response to the tight global oil supply caused by the war,The International Energy Agency announced on March 11 that 32 member countries unanimously agreed to release 400 million barrels of strategic oil reserves. It is the largest release of reserves coordinated by the agency to date.
Birol expressed the hope that there would be no need to use strategic oil reserves again, but if further measures are needed to deal with the energy shock caused by the war between the United States and Israel, the International Energy Agency is ready to prepare accordingly.
