IEA Head Says Energy Crisis Surpasses 1973 and 1979 Shocks
IEA head Fatih Birol says the Hormuz blockade has created an energy crisis worse than 1973, 1979, and 2022 combined. Developing nations face the highest risks.
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Fatih Birol, the head of the International Energy Agency (IEA), has stated that the current oil and gas crisis is more severe than the disruptions of 1973, 1979, and 2022 combined. In an interview with the French newspaper Le Figaro, Birol emphasized that the global energy market has never faced a supply shock of this magnitude.
