Gate News reports that on March 20, the International Energy Agency (IEA) issued a stern warning that ongoing conflicts involving Iran could trigger the largest supply disruption in the history of the global oil market. Normal flow of oil and natural gas in the Gulf region could take up to six months to restore. IEA Director Fatih Birol stated that policymakers and markets have underestimated the severity of this crisis, which could drive up energy prices and strain global supply chains. The IEA emphasized that relying solely on supply-side measures is insufficient to stabilize the market and listed a series of demand-side actions that can be implemented immediately, including: immediate reductions in oil and natural gas demand, decreasing industrial and household energy consumption, and calling for collective action to ease consumer pressure and ensure energy security.
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