The global energy crisis caused by the Iran war is an emergency that in some way touches every human being on earth, the head of the International Energy Agency has said. Fatih Birol, speaking in Canberra, said the scale and breadth of the disruption — from oil and gas to petrochemicals, fertilizers, helium, and sulfur — meant that no sector of the global economy and no region of the world was entirely insulated from its consequences. He described the overall crisis as the combined equivalent of the 1970s twin oil shocks and the Ukraine gas emergency.
Birol said the most immediate human consequences were being felt through higher fuel prices, which affected transportation, heating, and manufacturing costs for billions of people worldwide. But he said the secondary consequences — including potential fertilizer shortages affecting food prices, and helium shortages affecting medical equipment — would reach even further into daily human life if the crisis persisted. He called on governments to communicate honestly with their citizens about the scale of what was happening.
The conflict began February 28 with US and Israeli strikes on Iran and has since removed 11 million barrels of oil per day and 140 billion cubic metres of gas from world markets. At least 40 Gulf energy assets have been severely damaged, and the Hormuz strait — through which about 20 percent of global oil flows — remains closed. The IEA deployed 400 million barrels from strategic reserves on March 11 in its largest ever emergency action.
Birol confirmed further reserve releases were under consideration and that consultations with governments across three continents were ongoing. He also called for demand-side policies including remote work, lower speed limits, and reduced commercial aviation. He met with Australian Prime Minister Anthony Albanese and praised Australia’s engagement with the global response.
Trump’s 48-hour ultimatum to Iran to reopen the strait expired without result, and Tehran threatened retaliatory strikes on US and allied energy and water infrastructure. Birol warned that the human consequences of a prolonged crisis would be severe and far-reaching. He called on all governments to treat the crisis with the urgency it deserved — not just as an energy market challenge, but as a human welfare emergency affecting billions of people around the world.
