IEA: Politicians underestimate the energy crisis

The work of getting gas and oil deliveries underway could take up to six months, Birol warns in an interview with the Financial Times.

According to Birol, the Iran war is “historically the greatest security threat to the global energy market.”

Qatar accounts for around 20 percent of global liquefied natural gas (LNG) exports. In addition, much of the world's oil passes through the Strait of Hormuz every day, but that flow has almost completely ceased since the outbreak of the war.