Link: https://english.almanar.com.lb/article/41682/

Preferable to have the official announcement done through Hezbollah-friendly media IMHO. After all, they did this. I won't even joke and say "nice job lads" because what did I ever do? I need to reevaluate my life re: guerrilla warfare.

Fatih Birol, the Executive Director of the International Energy Agency (IEA) speaks at the National Press Club in Canberra, Australia, on March 23, 2026.

The Executive Director of the International Energy Agency (IEA) Fatih Birol warned on Monday that the world could face its worst energy crisis in decades due to the war in the Middle East, emphasizing that the situation is “very serious.”
Speaking at the National Press Club in Canberra, Birol stated, “So far, we have lost 11 million barrels per day (bpd), which is more than what was lost during the two major oil crises of the 1970s combined.”

He added, “At that time, the world lost about 5 million bpd in each crisis, totaling 10 million bpd if both are combined.”
He also pointed to the repercussions of the war in Ukraine since 2022, noting that the current situation “represents, at this stage, two oil crises and a collapse of the gas market.”
The International Energy Agency says it may release more oil from emergency reserves as the Iran war disrupts global supply.

Executive Director Fatih Birol warned the crisis is “very severe” and could surpass past oil shocks, stressing the need to reopen the Strait of Hormuz. pic.twitter.com/jjLcPvKMiH

— Al Jazeera Breaking News (@AJENews) March 23, 2026 Birol confirmed that at least 40 energy sites in nine Middle Eastern countries have been “severely or very severely” damaged by the war.

“No country will be immune to the effects of this crisis if it continues this way. Therefore, it is important to act on a global scale,” he said. “The global economy faces a grave threat, and I hope this problem is resolved as quickly as possible.”

Since the outbreak of the US-Israeli war on Iran on February 28, Tehran has retaliated by closing the Strait of Hormuz, declaring that the strategic waterway “is open to those who do not stand on the side of the enemies.” This has led to a sharp rise in global oil and gas prices.

In an attempt to curb rising oil prices, the United States on Friday authorized the sale and delivery of Iranian oil and its derivatives stored on tankers for a period of one month. However, Tehran reported that it has no surplus crude oil currently at sea.

IEA discussing further oil releases, says executive director – ecns

The International Energy Agency (IEA) is in talks with member countries on releasing more stockpiled oil in response to the supply crisis driven by the conflict in the Middle East, IEA executive director Fatih Birol said here on Monday.

Addressing the National Press Club, Birol said he has been in contact with international colleagues on a daily basis regarding a second oil release after the agency's member countries agreed in March to release 400 million barrels from strategic stockpiles.

"If it is necessary, of course, we will do it," he said of a second release, but warned that it would not solve the supply shortfall.
"A stock release will help to comfort the markets, but this is not the solution. It will only help to reduce the pain in the economy," he said, describing the situation as "very severe."

Birol is set to meet with Australian Prime Minister Anthony Albanese while in Canberra and said the two would discuss the IEA's recommended steps for civilians to limit oil demand, such as using public transport where possible, working from home and reducing air travel.