IEA’s Birol: World is in the middle of the first truly global energy crisis

Dhwani Mehta FXStreet

International Energy Agency (IEA) Chief Fatih Birol said on Tuesday that “the world is in the middle of the first truly global energy crisis.”

Additional quotes

The decision from OPEC+ to cut output by million bbl/day is a risky one, especially as several economies are on the brink of recession.

Global LNG markets will tighten further in the next year as Europe's imports will increase and demand from China may rebound.

Gas markets softening because of mild temperatures in Europe, significant demand destruction.

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