IEA boss Fatih Birol.Image: keystone
April 7, 2026, 11:55 amApril 7, 2026, 11:55 am
The head of the International Energy Agency (IEA), Fatih Birol, has warned that oil supply problems will worsen in view of the Iran war and the largely blocked Strait of Hormuz. “You have to be aware that March was very difficult, but April will be much worse,” Birol told the newspaper “Le Figaro” in Paris. The Gulf states only produce a little more than half of the amount of oil they produced before the war, and natural gas is no longer exported at all.
“If the Strait actually remains closed throughout April, we will lose twice as much crude oil and refined products as we did in March. We are facing a “Black April,” said Birol. “I am very pessimistic today because this war is crippling one of the lifelines of the world economy. Not just oil and gas, but also fertilizers, petrochemicals, helium and much more.”
Most serious energy crisis to date
The world has never experienced a disruption in energy supply on such a scale. “If you look at the three major oil and gas crises of the past, the current crisis is more serious than those of 1973, 1979 and 2022 combined. We are facing a major energy shock that combines an oil, a gas and a food shock.”
The release of oil reserves pushed by the IEA only eases the pain, said Birol. “The only real solution lies elsewhere: in reopening the Strait of Hormuz. As long as it remains closed, the global economy will face enormous difficulties.”
Germany is in a more difficult situation when it comes to natural gas and reliable electricity sources such as nuclear energy and thus also electricity prices, said the IEA boss. “The German economy and industry could face very big challenges in the coming weeks, months or even years.” (sda/awp/dpa)