Politis

International Energy Agency: Worst Crisis in Decades - 11 Million Barrels of Oil Lost Daily

Published March 23, 2026, 09:23
International Energy Agency: Worst Crisis in Decades - 11 Million Barrels of Oil Lost Daily

The International Energy Agency (IEA) is warning of the most serious energy crisis in decades, due to the war in the Middle East. According to IEA Executive Director Fatih Birol, 11 million barrels of oil have been lost daily, a quantity greater than the losses of the two oil crises of the 1970s combined. Birol described the situation as “very serious,” emphasizing the intense pressure on the global energy market. The reduction in oil supply has reached levels not seen in decades, with losses greater than those of the 1970s crises. The IEA warns that no country will be able to escape the consequences of the crisis if it continues on this path, and calls for action on a global scale. It is noted that at least 40 energy infrastructure facilities in nine countries have suffered serious damage. The situation is causing great concern about the course of energy markets, as the war in the Middle East is affecting oil production and transportation, potentially leading to higher prices and burdening the global economy.