The head of the International Energy Agency (IEA), Fatih Birol, has said that the world is currently experiencing the largest energy crisis in history. In an interview with France Inter radio, he explained that the combined effects of petrol and gas shortages and the situation surrounding Russia have created an unprecedented global crisis. Birol described the situation as the most severe energy disruption the world has ever faced.

He added that ongoing geopolitical tensions and uncertainty in energy supply are driving up oil prices, putting significant pressure on the global economy. In March, IEA member countries decided to release a record 400 million barrels of oil from strategic reserves to stabilize markets affected by conflicts involving the United States, Israel, and Iran.

The IEA’s emergency release aims to ease market volatility and mitigate the economic strain caused by supply disruptions and rising energy costs.