“Fatih Birol, executive director of the International Energy Agency, last week warned that the world is facing its largest energy crisis in history, fueled by the closure of the Strait of Hormuz during the U.S. war on Iran.
Those hit hardest are oil-exporting countries, and that has forced some governments to take measures unseen for nearly 50 years.
Some have declared a state of energy emergency, and others are rationing fuel. Some are giving cash handouts. Others have told citizens to change their habits. Many have capped the price of oil for consumers. The 32 countries of the IEA released a record 400 million barrels of oil from their reserves.” [1]
1. World News: Middle East Conflict Has Fanned An Energy Crisis Around the World. Kiss, Daniel. Wall Street Journal, Eastern edition; New York, N.Y.. 27 Apr 2026: A9.
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