Europe has about six weeks of jet fuel reserves left, International Energy Agency (IEA) Executive Director Fatih Birol told the Associated Press on Thursday, April 16.
Birol warned that flight cancellations could soon begin if oil supplies remain blocked by the war with Iran. According to him, the world is facing its biggest energy crisis yet, due to the reduction of oil, gas and other vital supplies through the Strait of Hormuz.
“In the past there was a group called ‘Dire Straits.’ It’s a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world,” Birol said.
Without a settlement of the war with Iran and the opening of the Strait of Hormuz, all countries will suffer, the executive director emphasized.
As the Ukrainian News agency earlier reported, on April 10, Corriere della Sera said that Europe is on the verge of a large-scale air transportation crisis due to critical fuel shortage. This jeopardizes the upcoming summer vacation season.
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