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In a recent interview, Fatih Birol, executive director of the International Energy Agency (IEA), warned that the world faces the largest energy crisis in history.

He highlighted two major impacts: first, a sharp surge in prices for petrol, natural gas and electricity; second, the risk of supply shortages of certain petroleum products if the Strait of Hormuz is not reopened. Birol stressed that to prevent the situation from worsening, he hopes to see the Strait of Hormuz reopened before the end of May.

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IEA chief warns of biggest energy crisis, calls for Hormuz reopening by end of May