International Energy Agency

IEA Executive Director Fatih Birol said that recovery timelines would vary across the region depending on national production capacities and infrastructure resilience

Europe has "maybe six weeks or so" of remaining jet fuel supplies, the head of the International Energy Agency said Thursday in a wide-ranging interview, warning of possible flight cancellations "soon" if oil supplies remain blocked by the Iran war. IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called "the largest energy crisis we have ever faced," stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz. "In the past there was a group called Dire Straits.' It's a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world," he told The Associated Press. The impact will be "higher petrol (gasoline) prices, higher gas prices, high electricity prices," said Birol, speaking in his Paris office looking out over the Eiffel Tower. Economic pain will be felt unevenly and "the

Last month, the Paris-based IEA oversaw the release of a record 400 million barrels from emergency oil reserves by members including the US, Japan and Germany in an effort to tame spiralling costs

IMF, IEA and World Bank form coordination group to assess and manage energy and economic fallout of West Asia crisis, focusing on supply disruptions and global stability

The effect of the current disruptions is equivalent to the two major oil crises in the 1970s and the 2022 natural gas crisis after Russia invaded Ukraine 'all put together,' IEA director Birol said

"The conflict in the Middle East has created the largest supply disruption in the history of the global oil market, due to the near halt in shipping traffic through the Strait of Hormuz," the IEA said

The International Energy Agency (IEA) has advocated a set of immediate demand-side measures, including work-from-home, lower speed limits, and reduced air travel to cushion the impact of a historic global oil supply shock triggered by disruptions in the Middle East. Oil prices spiked to over USD 100 per barrel after the US and Israel attacked Iran and Tehran's sweeping retaliatory actions. For India, which imports about 88 per cent of its crude oil needs, the surge in global prices poses a significant macroeconomic risk -- widening the current account deficit, pressuring the rupee, and increasing fuel costs for households and businesses. While petrol and diesel prices have so far not been increased, cooking gas LPG rates have been hiked by Rs 60 per cylinder. "The conflict in the Middle East has created the largest supply disruption in the history of the global oil market, due to the near halt in shipping traffic through the Strait of Hormuz," IEA said in a new report. Some 15 mill

the International Energy Agency on Sunday said its member countries in Asia and Oceania plan to release emergency stocks of oil "immediately" and that reserves from Europe and the Americas "will be made available starting from the end of March". "This emergency collective action, by far the largest ever, provides a significant and welcome buffer," it said in a statement. The Paris-based agency is helping to coordinate the international effort to lower prices. The IEA announced Wednesday that it will make 400 million barrels of oil available from members' emergency reserves - more than double the 182.7 million barrels that the IEA's 32 countries released in 2022 in response to Russia's full-scale invasion of Ukraine. The IEA's update on Sunday said its members have so far committed to making available a total of nearly 412 million barrels from government, industry and other stocks - of which 72% will be crude oil and the rest as oil products.

IEA's release is aimed at preventing a further rise in oil prices and is more than double the ​182 million barrels released in 2022 following Russia's invasion of Ukraine

The IEA, which co-ordinates stockpile releases for OECD countries, has said its 32 members hold more than 1.2 billion barrels in public emergency stockpiles

IEA members are considering a record release of oil from strategic reserves to stabilise global markets as the West Asia conflict disrupts supply and triggers sharp volatility in crude prices

Brent futures were ​trading down 23 cents, or 0.26 per cent ‌lower, at $87.57 ​a barrel ‌at 0023 GMT

The source also said that India has no plans to restrict its fuel exports as it has 'reasonably' comfortable stocks of gasoline, gasoil and jet fuel

The Paris-based IEA was formed after the 1970s oil supply crisis and provides research and data to the US and other industrialised governments to guide energy policy

India ranks 47th in global ePV adoption in 2025 with just 4% penetration, far from its 2030 target, as infrastructure and policy gaps slow EV momentum

GEAPP is a philanthropic body backed by The Rockefeller Foundation, IKEA Foundation and the Bezos Earth Fund

"We're definitely not satisfied," US Energy Secretary Chris Wright said, ahead of an IEA ministerial meeting. The agency must complete reforms "for the US to remain a long-term member," he said

Integration of AI can help manage complexities in the power sector, including in India, where the share of renewables is expected to grow in the years to come, an expert from the International Energy Agency (IEA) said. "...We are seeing a very strong trend of increasing complexity of the energy sector at large, specifically the electricity systems. So why is it becoming more complex? One is that in general the electrification is rising," Siddharth Sigh of IEA said while speaking at the AI Impact Summit in the national capital. During a panel discussion on Monday on AI for Power -- Accelerating the Clean Energy Transition -- the energy expert said, the end use of energy is more compared to other fuels. There is greater variable renewable electricity for the system, which was never the case in the past. Most of the other sources of electricity were stable, that is no longer the case. Now with solar and wind, the share of variable renewables is expected to be sizeable by the end of th

Jaishankar is on a six-day official visit to France and Luxembourg from January 4 to January 10, aimed at strengthening India's bilateral ties with both countries

IEA said an early, strong monsoon could curb demand and lift hydropower, pushing coal-fired output down about 3% in 2025, even as coal capacity continues to expand