More than 40 Middle East energy assets ‘severely damaged,’ IEA chief says
Fatih Birol said 40 energy assets in nine countries were severely damaged, and the IEA is weighing another 400 million-barrel reserve release.
- On March 23, 2026, IEA Executive Director Fatih Birol warned that the Iran war has severely damaged at least 40 energy assets across nine countries, creating an unprecedented global supply shock.
- Beginning February 28, 2026, the conflict effectively halted shipping through the Strait of Hormuz, stripping 11 million barrels per day from global supply and surpassing combined 1970s oil shocks.
- On March 11, member nations released a record 400 million barrels of oil to combat price spikes; however, Birol cautioned that emergency releases only offer short-term relief from supply pain.
- President Donald Trump issued a 48-hour ultimatum for Iran to reopen the Strait, threatening to "obliterate" Iranian power plants, while Iranian Parliament speaker Mohammad-Bagher Ghalibaf vowed to destroy regional energy infrastructure.
- Repairing damaged infrastructure will take months, Birol warned, causing sustained price volatility; he asserted that reopening the Strait is the "single most important solution" to the historic global energy crisis.
198 Articles
198 Articles
The International Energy Agency is considering releasing additional oil reserves, while its boss warns that no country is safe from the price shock.
412 million barrels will soon flood oil markets — will it matter?
In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil reserves in history. Thirty-two countries will sell a combined 412 million barrels from their reserves into the […] The post 412 million barrels will soon flood oil markets — will it matter? appeared first on Asia Times.
The IEA Middle East war and energy crisis will surpass the combined aftermath of the oil shock and the Ukra war. Crude oil supply decreased by 11 million barrels per day, exceeding the reduction during the 1970s oil shock, and the invasion paralyzed Qatar's LNG export capacity by 17% due to the invasion, IEA Secretary General emphasizes the biggest energy security threat in history, the United States
Global energy crisis deepens amid US-Iran tensions in Strait of Hormuz
Global energy markets are facing one of the most severe disruptions in decades, with the International Energy Agency (IEA) warning that the ongoing US-Israel-Iran conflict has already removed around 11 million barrels per day from global oil supply, an impact larger than past oil crises combined.
IEA Warns: Iran War 'Greatest Global Energy Threat' Ever
International Energy Agency (IEA) Executive Director Fatih Birol says that more than 40 Middle East energy assets have been severely or very severely damaged since the U.S. and Israel launched attacks on Iran on Feb. 28.
Energy Agency Urges Slower Driving and Avoiding Air Travel to Conserve Energy Due to Iran Conflict.
PULSE POINTSWHAT HAPPENED: The International Energy Agency (IEA) proposed ten measures to reduce global energy consumption, citing the ongoing Iran conflict as a significant factor in high energy prices.WHO WAS INVOLVED: The IEA, led by executive director Fatih Birol, along with its 32 member nations, including the United States, the United Kingdom, Canada, and Japan.WHEN & WHERE: The recommendations were issued recently amidst the Gulf conflict…
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