Washington, April 13 (QNA) – Executive Director of the International Energy Agency (IEA), Fatih Birol expressed hope that further releases of oil reserves would not be necessary, while simultaneously affirming the agency’s readiness to act should the energy shock resulting from a war with Iran warrant it.

Speaking at an Atlantic Council event in Washington today, Birol added that the war has caused the worst global disruption to the energy sector ever, noting that more than 80 oil and gas facilities, including production plants, transportation terminals, and refineries, have been damaged as a result of the Iran war.

Birol’s remarks come a week after the IEA predicted that April would be even more challenging than March, which saw severe disruptions to energy supplies due to the US-Israeli-Iranian conflict.

Birol said the world is on the verge of a “Black April,” warning that continued closure of the Strait of Hormuz this month would double losses in crude oil and refined product prices compared to the previous month.

The outlook reflects the scale of the challenges facing global markets, especially given the reliance of many major economies on energy supplies from the Gulf region. (QNA)