World could face worst energy crisis in decades, IEA chief warns
'As of today, we lost 11 million barrels per day,' says International Energy Agency chief Fatih Birol.
Fatih Birol, Executive Director of the International Energy Agency, speaks with the media during the International Energy Forum (IEF) in New Delhi, April 11, 2018/ Reuters
The war in the Middle East could see the world face its worst energy crisis in decades, International Energy Agency chief Fatih Birol warned on Monday (23 March), describing the situation as "very severe".
"Many of us remember the two consecutive oil crises in the 1970s... at that time, in each of the crises, the world has lost about five million barrels per day, both of them together, 10 million barrels per day," Birol told the National Press Club in Australia's capital.
"As of today, we lost 11 million barrels per day, so more than two major oil shocks put together," he said.
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