The war in the Middle East has triggered the worst oil crisis — Reuters

The world is facing the worst oil crisis in history due to the war in the Middle East and disruptions to supplies.

This is reported by Reuters.

The International Energy Agency notes that the fighting and the de facto blockade of the Strait of Hormuz have sharply reduced exports and impacted the global market.

According to IEA estimates, oil supplies have already decreased by more than 10 million barrels per day, and the reduction could intensify in the near future.

At the same time, the agency forecasts a significant drop in demand—up to 1.5 million barrels per day, which would be the worst figure since the COVID-19 pandemic.

The IEA emphasizes that the key factor in stabilizing the situation is the resumption of shipping through the Strait of Hormuz.

Under the baseline scenario, supplies may partially resume by mid-year, but will remain below pre-war levels. In the worst-case scenario, the world could lose up to 2 billion barrels of reserves, which would further exacerbate the crisis.

Gulf countries also reported that no new airstrikes from Iran were recorded on April 9. This marks the first day without attacks since the war began in late February. The situation may indicate a temporary easing of tensions in the region.

Since the ceasefire between the U.S. and Iran was announced, only a few ships have passed through the Strait of Hormuz. Traffic remains limited and unstable. Against this backdrop, hundreds of oil tankers are waiting for permission to pass.

Iran has stated that Lebanon is part of the ceasefire agreements with the US, although Washington and Israel deny this. Amid new strikes on Beirut, Tehran is warning of the consequences of any violations. The situation surrounding the agreement remains tense and uncertain.