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How global oil supplies have readjusted to help fill the huge gap left by the Strait of Hormuz shock
…on demand Global energy markets have been contending with their largest supply disruption in history resulting from the near closure of the Strait of Hormuz, a vital artery for oil and gas shipments to reach global markets. The cumulative oil supply losses from producers in the Middle East now exceed 1.3 billion barrels, with flows through the Strait of Hormuz falling from around 20 million barrels per day prior to the conflict to an average of 2.7 million barrels per day in March, April and May.Since the start of the war in the Middle East on 28…
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How governments can best support consumers during this energy crisis
…best support consumers during this energy crisis The conflict in the Middle East has triggered a major shock to global energy markets, with the effective closure of the Strait of Hormuz triggering the largest supply disruption in the history of oil markets and significantly impacting supplies of natural gas and a range of energy-related commodities.As concerns over supply security have grown, prices have risen across several parts of the energy system, increasing pressure on household budgets, public finances and economic activity more broadly. In response, many governments have announced emergency measures to protect consumers from higher energy costs…
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Energy crisis threatens world’s most vulnerable as cooking fuel shortages grow
The Energy Crisis hits the Homefront: A growing shortage of cooking fuels The Middle East crisis has highlighted the energy security risks for a fundamental need: the ability to cook a meal The conflict in the Middle East has triggered a global energy crisis of unprecedented magnitude. The daily volumes of oil lost to global markets in March 2026 surpassed the peak supply losses of the two major oil shocks of the 1970s combined.Previous energy crises affected economies and societies in profound ways, often forcing households to ration fuel for their cars and heating for their homes. The 2026…
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Wired for water: How electrification is transforming desalination
…areas has risen by almost 1 billion to more than 3 billion. Three-quarters of this growth occurred in extremely high-stress regions, areas where 30% of the global population live today. Around 85% live in emerging market and developing economies. Major population growth centres are already affected: in India, over 70% of the population lives in highly stressed areas, particularly in the northeast, and the number of people facing water stress today equals the country’s total population in the early 2000s.The Middle East and North Africa, home to 490 million people in 2024, faces extreme water stress…
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IEA launches tracker to monitor policy responses to energy market impacts of Middle East conflict
…government actions taken in response to the energy market impacts of the conflict in the Middle East.The tracker provides an up-to-date overview of measures introduced by governments to conserve energy and protect consumers from rising prices, as governments respond to supply disruptions and increased volatility, notably in markets for crude oil, oil products and liquefied natural gas (LNG).The conflict, which began on 28 February, has significantly impeded energy trade flows through the Strait of Hormuz, creating the largest supply disruption in the history of the global oil market. Global supply of LNG has also been reduced…
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IEA Member countries to carry out largest ever oil stock release amid market disruptions from Middle East conflict
…in the Middle East and consider the options to address supply disruptions. “The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA Member countries have responded with an emergency collective action of unprecedented size,” said IEA Executive Director Fatih Birol. “Oil markets are global so the response to major disruptions needs to be global too. Energy security is the founding mandate of the IEA, and I am pleased that IEA Members are showing strong solidarity in taking decisive action together.”The emergency stocks will be made available to the market over a…
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IEA releases major update to tracker of government responses to energy impacts of Middle East conflict
…provides comprehensive survey of policies to promote energy conservation, support consumers and improve structural resilience – and now allows users to easily search for specific countries The International Energy Agency has published a major update to its Energy Crisis Policy Response Tracker, a new interactive online tool that monitors government actions taken in response to the energy market impacts of the conflict in the Middle East.The conflict, which began on 28 February, has significantly impeded energy trade flows through the Strait of Hormuz, creating the largest supply disruption in the history of the global oil market and throttling natural gas exports from the…
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Global shocks have driven a surge in energy policy activity and government spending
…Government spending on energy has more than doubled since 2019 – a period that included the disruptions of the Covid-19 pandemic and the 2022 energy crisis. Globally, annual government spending on energy exceeded $405 billion in 2025, according to the report. Even before the outbreak of the war in the Middle East this year and the major impacts on energy markets around the world, annual government spending on energy was projected to remain near 2025 levels through 2030. The bulk of public spending has been directed towards longer-term investments in energy infrastructure, advanced manufacturing, renewable energy, energy efficiency and…
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New IEA report highlights options to ease oil price pressures on consumers in response to Middle East supply disruptions
…air travel, cooking and industry amid strains in diesel, jet fuel and LPG markets The International Energy Agency today set out a range of demand-side actions that governments, businesses and households can take to alleviate the economic impacts on consumers of the disruptions to oil markets stemming from the war in the Middle East.The conflict has triggered the largest supply disruption in the history of the global oil market, with shipping through the Strait of Hormuz, which normally carries around 20% of global oil consumption, reduced to a trickle. Around 20 million barrels per day of crude oil…
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IEA confirms Member country contributions to collective action to release oil stocks in response to Middle East disruptions
Following the agreement announced on 11 March for the IEA Member countries to make 400 million barrels of oil available to the market, initial volumes of oil from the emergency reserves have already started to be made available. The Governing Board of the IEA met yesterday to review the situation in energy markets and the implementation of the collective action.As detailed in the table below, the overall release of emergency stocks will largely consist of crude oil, while in Europe the contributions will primarily take the form of refined oil products. This is being complemented by additional production from…