The International Energy Agency announced it is considering releasing more oil reserves due to the ongoing war in Iran. The agency's executive director stated that consultations with Asian and European governments are underway to address potential supply issues.

Fatih Birol emphasized that any decision depends entirely on market conditions. He clarified that no specific oil price threshold has been set to trigger this action, but the agency remains highly vigilant regarding global energy stability.

Describing the current Middle East crisis as extremely severe, Birol highlighted the strategic importance of regional waterways. He identified the reopening of the Strait of Hormuz as the most critical solution to ease pressure on global energy markets. #Energy #MiddleEast #Oil

Author