The volume of oil supply lost because of the war in Iran and the blockade of the Strait of Hormuz has reached 14 million barrels per day, International Energy Agency (IEA) Executive Director Fatih Birol said.
“The amount of oil we are losing today in this energy crisis is greater than in any energy crisis in history,” Birol said at a press conference in Vienna.
While the IEA is making “diplomatic efforts” to encourage other producers, such as Nigeria, Brazil, and Canada, to increase output to offset part of the losses, measures to reduce consumption are also needed, Birol said. These include promoting public transportation, lowering speed limits, and facilitating remote work.
