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Global Energy Crisis Eclipses 1970s Oil Shocks, Warns IEA Chief
March 23, 2026
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IEA Executive Director Fatih Birol says the current energy crunch fueled by the Iran-Russia conflict poses a greater threat to the global economy than the 1970s oil shocks combined.
The global energy crisis has surpassed the severity of the 1970s oil shocks, posing a major threat to the world economy, according to Fatih Birol, the head of the International Energy Agency (IEA).
Birol warned that the current energy crunch, driven by the fallout from the Iran-Russia conflict, is
Source: Al Jazeera
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