IEA warns Europe faces jet fuel shortage within weeks amid supply disruptions
Europe may have only about six weeks of jet fuel remaining if current supply disruptions persist, the Executive Director of the International Energy Agency (IEA) Fatih Birol warned on Thursday, Xinhua reported.
Birol cautioned that flight cancellations could occur soon if oil supplies remain blocked due to the ongoing conflict in the Middle East, according to a report by French-language media outlet L'actualite.
He described the situation as potentially the largest energy crisis ever faced, attributing it to disruptions in the flow of oil, gas and other vital resources through the Strait of Hormuz.
The disastrous situation will have major repercussions for the global economy, Birol said, warning that the longer the disruption lasts, the more serious the consequences will be for global economic growth and inflation.
Earlier, it was reported that Nepal had announced two-day weekend amid fuel crisis.
