Fatih Birol

"In addition to the challenges of transit through the Strait of Hormuz, a substantial amount of oil production has been curtailed. This is creating significant and growing risks for the market."

"he has concerns about global energy supplies"

"In oil markets, conditions have deteriorated in recent days."

"The decision will not help the global gas market, which he described as very challenging."

"Oil markets are global so the response to major disruptions needs to be global, too. Energy security is the founding mandate of the IEA, and I am pleased that IEA members are showing strong solidarity in taking decisive action together."

"emergency collective action of unprecedented size"

"This is a major action aiming to alleviate the immediate impacts of the disruption in markets."

"Oil markets are global so the response to major disruptions needs to be global too."

"the world was facing 'the greatest global energy security threat in history' and it was time for governments to become 'more vocal' around how energy was being used."

"'I believe the world has not yet well understood the depth of the energy security challenge we are facing.'"

"This crisis as things stand is now two oil crises and one gas crash put all together."

"major, major threat from the disrupted flow of oil and natural gas"

"The current oil crisis had surpassed the combined effect of worldwide energy shocks in the 1970s."

"we stand ready to act"

"the worst global energy disruption ever"

"I hope, very much hope, we don't need to do it but if it is needed we are ready to act."

"I hope, very much hope, we don't need to do it but if it is needed we are ready to act."

"April may well be even worse than March, because during the month of March, we have already received cargoes which were loaded well before the crisis started..."

"global oil prices don’t yet reflect the severity of the supply crisis caused by the war in Iran."

"Demand destruction will spread as scarcity and higher prices persist."

"Resuming flows through the Strait of Hormuz remains the single most important variable in easing the pressure on energy supplies, prices and the global economy."

"there could soon be flight cancellations if supplies remained blocked."

"Europe has maybe six weeks of jet fuel left."