Fatih Birol, President of the International Energy Agency (IEA), said that oil supply is gradually decreasing due to the closure of the Strait of Hormuz, and that disruptions in energy supply originating from the Middle East will increase in April and will heavily affect Europe.
“The oil bottleneck in April will be twice the one in March. The bottleneck in liquefied natural gas (LNG) will also be added to this,” Birol said in a podcast with Norwegian Wealth Fund President Nicolai Tangen.
Stating that the biggest problem is experienced on the jet fuel and diesel side, Birol said, “We are currently seeing this in Asia. But I think this problem will spread to Europe in April or May.”
