The head of the International Energy Agency (IEA) has cautioned that escalating conflicts involving Iran, the United States, Israel, and Lebanon could push the global energy system toward what may become the most severe crisis on record.
In an interview with France Inter radio, IEA Executive Director Fatih Birol said the world is already experiencing an “unprecedented energy shock,” driven by simultaneous pressures in both oil and natural gas markets.
He explained that the situation has worsened due to overlapping global disruptions, including the ongoing Russia–Ukraine war, which had already significantly reduced Russian gas flows to Europe before tensions intensified in the Middle East.
A key concern, according to Birol, is the disruption of maritime routes in the Strait of Hormuz—one of the world’s most critical energy chokepoints. Nearly one-fifth of global oil and liquefied natural gas shipments pass through the passage, making it vital for global supply stability. Any disturbance there has immediate effects on prices and supply security worldwide.
Birol warned that when measured collectively, the current energy stress appears more severe than past major shocks, including those in 1973, 1979, and even the 2022 energy crisis.
In an effort to stabilize markets amid rising prices and tightening supply, the IEA agreed in March to release 400 million barrels of oil from strategic reserves, marking one of its largest coordinated interventions to ease pressure on global energy markets.
