Iranian missile strikes have knocked out Qatar’s liquefied natural gas (LNG) exports, and while Australia could fill the gap, it cannot do it alone, he said. Following the IEA’s historic release of 400 million barrels of oil to ease the markets, Birol said the organization was consulting with governments around the world and more oil could be released if necessary. “If needed, we can put more oil in the markets, both crude oil and products,” he said. It will only help to reduce the pain and the economy.”At least 44 energy assets in the region have been severely or very severely damaged across nine countries, Birol said. Rationing and Covid-style measures to conserve energy may be needed for some time, with poorer nations suffering the most.

Source: Egypt Independent March 23, 2026 15:07 UTC