IEA: Europe has about six weeks of jet fuel reserves, mass flight cancellations possible

Europe has “maybe six more weeks of jet fuel reserves left,” the head of the International Energy Agency (IEA), Fatih Birol, said today, warning of possible flight cancellations if oil supplies are still blocked due to the war in Iran.

In an interview with the Associated Press (AP), Birol said that the world is currently in the “biggest energy crisis ever” due to the blockade of the Strait of Hormuz.

He said the current situation will have “major implications for the global economy.”

– The longer it lasts, the more devastating it will be for economic growth and inflation around the world – Birol said.

The energy crisis will primarily affect “higher prices for fuel, gas and electricity, and some parts of the world will be hit harder than others,” he said.

Birol said that the first countries to be hit are Asian countries that rely heavily on energy from the Middle East, including Japan, South Korea, India, China, Pakistan and Bangladesh.

If the Strait of Hormuz is not opened, he said that soon, in Europe, news could be heard that some flights are being canceled due to fuel shortages.

International Energy Agency

IEA

Fatih Birol

Strait of Hormuz blockade