IEA warns Middle East conflict disrupts oil supply chains

2026-03-06 - 16:04

Shafaq News- Brussels Logistic and supply chains from the Middle East complicated oil markets despite ample global crude inventories, an official from the International Energy Agency (IEA) said on Friday. Speaking at a press conference, the IEA Executive Director, Fatih Birol, voiced concern over oil prices rising above $80 per barrel. “We are facing temporary supply disruptions, and there is no emergency plan for this situation,” he noted, adding that he has spoken with several oil-producing countries both within and outside OPEC, and that “all options remain on the table” regarding energy market conditions. On liquefied natural gas (LNG), Birol warned that European and Asian buyers may compete for supplies if the military conflict in the Middle East continues in the coming weeks. Read more: Iran halts traffic in Strait of Hormuz after US-Israel strikes