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US-Iran War Impact: West Asia May Take up to 2 Years to Restore Lost Energy Production, Says IEA
The International Energy Agency said recovery will vary by country as shipping disruptions and supply chain damage continue across the region.
- The Middle East could take two years to restore lost energy production following the war with Iran, according to the International Energy Agency , as reported by Switzerland's Neue Zuercher Zeitung newspaper on Friday.
- US Central Command forces are enforcing a large-scale maritime blockade targeting Iran's ports and coastline, involving more than 10,000 personnel, over a dozen naval vessels, and upwards of 100 aircraft.
- IEA Executive Director Fatih Birol noted recovery timelines vary across the region, stating, "In Iraq, for example, it will take much longer than in Saudi Arabia."
- British Prime Minister Keir Starmer and French President Emmanuel Macron will host a virtual summit of leaders from around 40 countries to secure shipping routes through the Strait of Hormuz.
- President Donald Trump said it remains unclear if the ceasefire with Iran, set to expire on April 22, will be extended, though he expressed optimism about ongoing negotiations.
19 Articles
19 Articles
The Nation
Anadolu AjansıIEA chief says Mideast energy output may take 2 years to recover to 'pre-war levels'
International Energy Agency (IEA) Executive Director Fatih Birol said on Friday that Middle East energy production may take around two years to return to pre-war levels,
Loss of energy output in MidEast will take about two years to recover: IEA
It will take about two years to recover the energy output lost in the Middle East from the conflict there, Fatih Birol, the head of the International Energy Agency, was quoted as saying on Friday in an interview with the Neue...
Even if peace is reached, restoring energy supplies won't be quick. How will this affect prices? If the Strait of Hormuz remains closed, global energy prices will rise significantly, and a quick return to normal won't be possible. As reported by RBC-Ukraine, citing Sky News, this was stated by Fatih Birol, Executive Director of the International Energy Agency (IEA). Read also: Will Oil Prices No Longer Fall? How Commodity Prices Will Rise and th…
US-Iran war impact: West Asia may take up to 2 years to restore lost energy production, says IEA
Energy production in West Asia may take two years to recover post-conflict, varying by country, according to the IEA. The US and UK are discussing maritime security in the Strait of Hormuz, while a ceasefire with Iran may expire on April 22.
IEA chief says Middle East energy output may take 2 years to recover to 'pre-war levels'
ISTANBUL: International Energy Agency (IEA) Executive Director Fatih Birol said on Friday that West Asia energy production may take around two years to return to pre-war levels, while signalling that further emergency stock releases remain under consideration.
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