World Could Face Most Severe Energy Crisis In History: IEA

RunWithRugs · 2026-03-21T02:03:42+00:00

The International Energy Agency warns that oil and gas flows may take up to six months to normalize, especially from the Gulf region, leading to a potential historic energy crisis, with one-fifth of the global supply affected.

RunWithRugs

2026-03-21 02:03:42

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(MENAFN- The Peninsula) QNA

Paris: The International Energy Agency (IEA) confirmed that oil and gas flows could take up to six months to return to normal levels, particularly from the Gulf region, indicating that the world is facing what could be the most severe energy crisis in history.

IEA Executive Director Fatih Birol said Friday that some sites would take six months to become operational again, while others will take much longer.

Birol accused politicians and markets of underestimating the extent of the disruption, noting that approximately one-fifth of the world’s oil and gas supply is effectively trapped in the region.

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