International Energy Agency Raises Alarm, Says "Situation In Middle East Very Severe"
The war in the West Asia could see the world face its worst energy crisis in decades, International Energy Agency chief Fatih Birol warned on Monday (March 23, 2026), describing the situation as “very severe”. He described the crisis in the Middle East as “very severe” and worse than the two oil shocks of the 1970s, as well as the impact of the Russia-Ukraine war on gas, put together. “The single most important solution to this problem is opening the Hormuz Strait,” he said.
