IEA Executive Director: Global Oil Crisis Permanently Changes Fossil Fuel Industry
IEA Executive Director Fatih Birol stated that the oil crisis triggered by the Iran war has permanently altered the fossil fuel industry, compelling countries to accelerate their shift away from fossil fuels to ensure stable energy supplies.
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- 📰 Published: April 25, 2026 at 16:03
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US-Iran War Key News
Central News Agency
(Central News Agency, London, April 24, comprehensive foreign reports) Fatih Birol, Executive Director of the International Energy Agency (IEA), stated that the oil crisis triggered by the Iran war has permanently changed the fossil fuel industry, prompting countries to begin shifting away from fossil fuels to ensure stable energy supplies.
The British "The Guardian" reported that the world's leading energy economist also said that despite facing pressure, the UK should abandon most of its potential North Sea development expansion plans.
In an exclusive interview with The Guardian, Birol stated that a key impact of the US-Israel war on Iran is that countries will lose trust in fossil fuels, and demand for fossil fuels will decrease.
He said: "Their perception of risk and reliability will change. Governments will re-examine their energy strategies. This will greatly promote the development of renewable energy and nuclear power, and further accelerate the transition to a more electrified future. These changes will weaken the primary market for oil."
Birol believes this crisis is irreversible. He said: "The vase is broken, the damage is done, and it will be very difficult to piece the fragments back together. This will have a permanent impact on global energy markets for years to come."
While focusing on global supply shortages and future demand prospects, Birol also urged caution regarding the UK's potential plans. The oil industry and its allies are calling for increased drilling in the North Sea, including approving the Jackdaw and Rosebank oil fields, which have exploration permits but not yet production permits.
Birol said: "This will be decided by the government, but these oil fields will not make much difference to the UK's energy security, nor will they change oil and gas prices. They will not have any significant impact on this crisis."
He also warned against approving more new oil field exploration permits based on commercial considerations.
Birol said: "These oil fields will not provide significant oil and natural gas for many years, nor will they reduce bills. The UK will still be an important importer and price-taker in international markets. I haven't even mentioned the impact of climate change; purely from a commercial perspective, heavy investment in exploration may not be reasonable." (Compiler: Chang Hsiao-wen) 1150425
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Central News Agency
(Central News Agency, London, April 24, comprehensive foreign reports) Fatih Birol, Executive Director of the International Energy Agency (IEA), stated that the oil crisis triggered by the Iran war has permanently changed the fossil fuel industry, prompting countries to begin shifting away from fossil fuels to ensure stable energy supplies.
The British "The Guardian" reported that the world's leading energy economist also said that despite facing pressure, the UK should abandon most of its potential North Sea development expansion plans.
In an exclusive interview with The Guardian, Birol stated that a key impact of the US-Israel war on Iran is that countries will lose trust in fossil fuels, and demand for fossil fuels will decrease.
He said: "Their perception of risk and reliability will change. Governments will re-examine their energy strategies. This will greatly promote the development of renewable energy and nuclear power, and further accelerate the transition to a more electrified future. These changes will weaken the primary market for oil."
Birol believes this crisis is irreversible. He said: "The vase is broken, the damage is done, and it will be very difficult to piece the fragments back together. This will have a permanent impact on global energy markets for years to come."
While focusing on global supply shortages and future demand prospects, Birol also urged caution regarding the UK's potential plans. The oil industry and its allies are calling for increased drilling in the North Sea, including approving the Jackdaw and Rosebank oil fields, which have exploration permits but not yet production permits.
Birol said: "This will be decided by the government, but these oil fields will not make much difference to the UK's energy security, nor will they change oil and gas prices. They will not have any significant impact on this crisis."
He also warned against approving more new oil field exploration permits based on commercial considerations.
Birol said: "These oil fields will not provide significant oil and natural gas for many years, nor will they reduce bills. The UK will still be an important importer and price-taker in international markets. I haven't even mentioned the impact of climate change; purely from a commercial perspective, heavy investment in exploration may not be reasonable." (Compiler: Chang Hsiao-wen) 1150425
Choose to stand with facts. Your every sponsorship is a force to protect press freedom.
Download the Central News Agency's "First News" APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.