'Six Months Or Longer': World Energy Body Warns Of Slow Oil Flow Recovery

Fatih Birol warned that both politicians and financial markets are underestimating how severely the region's energy infrastructure has been disrupted.

20 Mar 2026, 15:16 · NDTV

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Restoring oil and gas flows from the Gulf could take six months or longer
Gulf energy infrastructure damage is severely underestimated by politicians and markets
Iranian attacks have targeted major Gulf oil and gas refineries recently

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Fatih Birol, chief of the International Energy Agency (IEA), has cautioned that restoring oil and gas flows from the Gulf could be a prolonged process, according to the Financial Times.

"It will be six months for some [sites] to be operational, others much longer," he said.

Birol warned that both politicians and financial markets are underestimating how severely the region's energy infrastructure has been disrupted. He described the ongoing conflict as "the greatest global energy security threat in history", adding that it will take time "to have oil and gas rehabilitated".

In recent days, several of the Gulf's largest oil and gas refineries have come under attack from Iran, compounding the damage.

Since US-Israeli forces began military action against Iran on February 28, Tehran has retaliated with strikes across the Middle East and issued threats that have nearly brought shipping in the Strait of Hormuz to a standstill, which is a critical route that typically handles about one-fifth of the world's oil supply.

The situation continues to intensify, with large-scale strikes now hitting key oil and gas production, storage, and transport facilities across the region.

Amid the turmoil, the IEA has outlined measures aimed at softening the economic blow on consumers. These include cutting highway speed limits by at least 10 km/h, switching to electric cooking, limiting air travel where alternatives exist, and increasing carpooling.

The IEA agreed on March 11 to release a record 400 million barrels of oil from strategic stockpiles to combat the spike in global crude prices, with the US contributing the bulk of the supply.

The conflict has already triggered what is being described as the largest supply shock in the history of the global oil market. Flows through the Strait of Hormuz, normally responsible for around 20 per cent of global oil consumption, have now slowed to a near halt.

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