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2026-04-05 14:00:48
[International Energy Agency Executive: April Crude Oil and Refined Product Losses Will Double; Continued Closure of the Strait of Hormuz Has Severe Consequences] ⑴ International Energy Agency Executive Director Fatih Birol warned that if the Strait of Hormuz does not reopen to shipping, the amount of crude oil and refined product losses in April will be double that of March, and it will take a long time to return to normal even after the conflict ends. ⑵ Birol stated that the International Energy Agency tracks all key energy assets in the region hourly, including oil and gas fields, pipelines, refineries, and liquefied natural gas terminals. Currently, 72 energy assets have been damaged, one-third of which have been severely or very severely damaged. ⑶ Birol also urged all countries not to stockpile fuel during wartime and not to implement export bans or restrictions, saying that the global oil market is in a very bad situation, and trading partners, allies, and neighbors will all be affected. ⑷ With U.S. gasoline prices exceeding $4 per gallon, California faces the threat of jet fuel shortages, and rumors are circulating about a possible U.S. ban on refined fuel exports, but the U.S. Energy Secretary has currently only ruled out the possibility of banning crude oil exports. (5) Birol stated that some countries are already stockpiling energy, which has weakened the impact of the International Energy Agency's actions. To stabilize the market, the International Energy Agency has released 400 million barrels of crude oil and fuel from its emergency reserves.
