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IEA warns - worst energy crisis in history, 11 million barrels per day lost

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The IEA warns of the worst global energy crisis in history. Executive Director Fatih Birol: approximately 11 million barrels per day lost - exceeding the 1973 and 1979 oil shocks and the 2022 gas market collapse after Russia invaded Ukraine. About 40 critical energy infrastructure facilities in 9 Middle Eastern countries have been seriously damaged. No economic system will be immune if disruptions persist. The IEA coordinated the largest-ever strategic reserve release - approximately 400 million barrels. Restoring unobstructed shipping through the Strait of Hormuz is essential.