International Energy Agency head says global economy faces ‘major, major threat’ because of Iran war
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The head of the International Energy Agency warns that the global economy faces a major threat due to the Iran war, which has already had a significant impact on oil and gas markets. The crisis could lead to high prices, inflation, and economic problems around the world if it continues to escalate.
The International Energy Agency head, Fatih Birol, says the global economy is at risk due to the Iran war. The conflict has affected oil and gas markets, with 11 million barrels per day lost, exceeding the impact of the 1970s oil shocks. The situation is severe, with 40 energy assets damaged in nine countries. The IEA has released 400 million barrels of oil to comfort the markets. The agency is consulting with governments about releasing more stockpiled oil if necessary.
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