The head of the International Energy Agency has warned that the world is facing the “biggest threat” to energy security in history amid ongoing disruptions in global oil supply.
Executive Director Fatih Birol said the crisis is being driven by a significant loss of supply, estimating that around 13 million barrels of oil per day have been removed from the global market.
Speaking to Reuters, Birol said rising energy prices are expected to put downward pressure on demand, with governments likely to introduce additional measures to manage the crisis and stabilize markets.
The warning underscores mounting concerns over global energy stability, as supply disruptions continue to impact oil markets and raise the risk of prolonged volatility in prices and demand.