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Energy Security at Risk if Hormuz Disruption Remains in Weeks, IEA Chief Reportedly Says

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Global energy security is at risk if oil flow through the Strait of Hormuz does not improve "in the next few weeks," media outlets reported Friday, citing International Energy Agency executive director Fatih Birol.

The IEA chief, during a Council on Foreign Relations event on Thursday, expressed his concern about the current energy situation, following intensified attacks between the US and Iran, Al Jazeera reported.

Several measures were taken to alleviate supply disruptions, but these were just temporary, according to Birol, as cited by Reuters.

Mitigations include an IEA-coordinate release of up to 400 million barrels of oil reserves, higher crude output from the US, China's high oil inventory levels pre-war, and expanding use of electric vehicles and public transportation in the country.

Birol reportedly highlighted that the current oil and gas crisis has mostly affected Asia, which secures 80% to 90% of its energy needs through the Strait.

If the energy situation worsens, Birol said the IEA member countries could again consider tapping oil reserves, as 80% of the volume still remains following the March release, Reuters reported.

has reached out to the IEA to seek further information about the potential release of oil reserves.

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