27-March-2026
Economy News
 
Energy crisis will not be resolved quickly if war ends, IEA chief warns
26-Mar-2026

The energy crisis caused by the Iran war is worse than the combined effect of the oil shocks in the 1970s, the leader of the International Energy Agency said Monday, warning that it would take time to resolve even if the war were to end soon. Fatih Birol, executive director of the IEA, accused global decision makers of not appreciating the severity of the crisis. Speaking at an event in Canberra, Australia, he added that his agency, an organization of 32 nations, was in talks with governments in Asia and Europe about releasing more oil from their strategic reserves. Less than two weeks ago, it coordinated the biggest release of stockpiled oil in history.

News Source:- https://economictimes.indiatimes.com/small-biz/trade/exports/insights/energy-crisis-will-not-be-resolved-quickly-if-war-ends-iea-chief-warns/articleshow/129792198.cms