Birol calls current energy crisis ‘worst’ ever, warns against Hormuz Strait blockade

International Energy Agency (IEA)’s Executive Director, Fatih Birol

International Energy Agency (IEA)’s Executive Director, Fatih Birol, urged countries worldwide to exercise extreme caution in reducing energy consumption in the short term, warning that the world is on the brink of a “Black April”.

In an interview with the French newspaper Le Figaro, Birol said: “If the Strait of Hormuz remains closed throughout April, we will lose twice as much crude oil and refined products as we did in March.”

He stated that the waterway is a major transit point for fertilizers.

Birol described the current energy crisis, stemming from the conflict in the Middle East, as the “worst ever in the world”.

He predicted that the crisis would accelerate the development of renewable and nuclear energy sources, as well as the adoption of electric vehicles.

He pointed out that the crisis is more severe than the combined energy crises of 1973, 1979, and 2022, and could lead to a restructuring of the global energy system.

Birol added that resolving the crisis will take years and will not be an immediate solution.

However, he said the geopolitics of energy is expected to undergo a profound transformation.

The IEA official emphasized that some technologies, such as solar and wind energy, which can be deployed very quickly, will advance faster than others.