17:31 30 September 2026
Head of IEA: recent events will change global energy markets for generations
IEA chief Fatih Birol warned that Europe has little capacity to absorb further energy shocks as buffers that have restrained oil prices are running out. Global oversupply has been largely consumed, nearly two-thirds of the IEA’s 400 million-barrel emergency release has been used, and China is resuming oil imports. If the Strait of Hormuz remains closed, prices could rise further. Europe is especially exposed to winter gas shortages and diesel costs: its storage levels are below normal, and diesel prices have doubled since the conflict began.
A proposed 90-day U.S. diesel export ban could hit Europe hardest, since it imports nearly half its diesel from the United States, potentially raising prices and threatening fuel availability.
(pb.pl)
