AhlulBayt News Agency (ABNA): Fatih Birol, the Executive Director of the International Energy Agency, stated that Europe has only about six weeks' worth of jet fuel in reserve. If the disruption to oil supplies due to the war in Iran continues, flight cancellations are likely soon.
According to a report by Al Jazeera, these remarks were made in an interview with the Associated Press, in which Birol painted a grim picture of the consequences of what he described as the biggest energy crisis in history, a crisis resulting from the disruption of oil and gas supplies through the closure of the Strait of Hormuz.
He added, "This will have major consequences for the global economy, and the longer the crisis lasts, the worse its effects on economic growth and inflation will be."
He noted that the impact of this crisis will include rising prices for gasoline, gas, and electricity.
Birol emphasized that the countries that will suffer the most are developing countries, particularly in Asia, Africa, and Latin America, but all countries will be affected if the Strait of Hormuz is not permanently reopened, as no country is immune to this crisis.
He added that if the closure of the Strait of Hormuz continues until the end of May, many countries, especially those with weaker economies, may face high inflation, reduced economic growth, or even recession.
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