The International Energy Agency warns that the blockage of the Strait of Hormuz and the destruction of energy infrastructure in the Persian Gulf generates a global oil deficit.

The International Energy Agency (IEA) has issued a serious warning regarding the blockage of the Strait of Hormuz and the destruction of energy infrastructure in the Gulf region, which is causing a major global oil deficit. This situation, generated by the war in the Middle East, could lead to a supply decrease of approximately 1.8 million barrels per day this year. The closure of the Strait of Hormuz, which transports one-fifth of the world's oil, has led to an unprecedented supply shock, and oil prices have skyrocketed, reaching 126 dollars per barrel. The IEA estimates a reduction in global oil stocks and increased price volatility, with a deficit that could persist until the last quarter of the year. The agency also highlighted that production in Gulf countries has significantly decreased, and the economic impact of the conflict will lead to a decrease in oil demand. IEA Executive Director Fatih Birol stated that the current energy crisis is the worst in history, surpassing the shocks of the 1970s.