Head of the International Energy Agency: The World Will Face Major Challenges if the Middle East Conflict Is Not Resolved Within Weeks

The Executive Director of the International Energy Agency (IEA), Dr. Fatih Birol, said the global economy would face major challenges and supply disruptions if the conflict is not resolved.

Reuters quoted Birol as saying the world should be concerned about oil and gas if their flows through the Strait of Hormuz do not improve, noting that the world is experiencing the largest energy crisis in history, prompting the agency to focus on energy security strategies and move away from long-term reliance on Russian supplies.