Oil surge triggers ‘biggest energy crisis’, IEA chief warns

“Oil surge triggers ‘biggest energy crisis’, IEA chief warns The head of the International Energy Agency has sounded the alarm over spiralling oil prices, warning of a deepening global economic shock as conflict in the Middle East disrupts markets. Speaking in Paris, Fatih Birol said the surge in crude prices is straining economies worldwide and driving up costs for governments already under pressure. "The world is facing the biggest energy crisis in history," Birol said at a high-level meeting on the energy transition at IEA headquarters. He added that rising oil prices are "putting a lot of pressure in many countries".

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