"Fatih Birol stated that the current crisis is more serious than the oil crises of 1973 and 1979, with a loss of 11 million barrels per day, which is unprecedented."
"The gas markets, particularly in Europe, have lost about 140 billion consumer meters due to the ongoing crisis, almost twice the loss experienced after Russia's invasion of Ukraine."
"Birol highlighted that the crisis is impacting vital sectors of the global economy, including petrochemicals and fertilizers, which will have lasting effects."
The US-Israel war on Iran has led to significant global oil and gas supply losses, surpassing previous crises. The International Energy Agency's head, Fatih Birol, emphasized the seriousness of the situation, noting a loss of 11 million barrels per day, exceeding the combined losses of the 1973 and 1979 oil crises. Additionally, the gas market has suffered a loss of 140 billion consumer meters, nearly double the impact of the Ukraine crisis. The crisis is also affecting petrochemicals and fertilizers, indicating long-term economic repercussions.
Read at www.theguardian.com
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