The oil supply disruptions from the Middle East due to the war against Iran will worsen in April and begin to affect the European economy. According to Reuters, this was stated by the executive director of the International Energy Agency (IEA), Fatih Birol.
According to him, in just over a month since the start of the war against Iran, more than 12 million barrels of oil have been lost due to Iranian attacks on the Persian Gulf countries and restrictions on shipping in the Strait of Hormuz.
Birol believes that the situation will begin to worsen in April and oil losses will be twice as large.
"This will lead to inflation and a decrease in economic growth in many countries <...> We are observing this in Asia, but soon, I think, in April or May, this will also affect Europe," Birol said.
The IEA head added that the biggest problem now is the shortage of aviation and diesel fuel. He also suggested that IEA member countries are discussing the release of additional volumes of oil and petroleum products to the world market.
Birol also said that the consequences of the war against Iran are leading the world to the largest disruption in the supply of energy carriers in history.
As Ukrainian News Agency earlier reported, on March 11, IEA member countries agreed to release 400 million barrels of petroleum products to stabilize the situation on the world market due to the situation in the Middle East.
Later, the IEA said that this release would affect about 20% of the strategic reserves of member countries. If the situation requires it, they can release additional volumes.
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