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Story summary
- Fatih Birol, Executive Director of the International Energy Agency (IEA), warned that April will worsen the oil glut due to the U.S.-Iran war.
- He said April losses will be double March’s, with potential inflation and growth effects, especially in emerging economies.
- Birol noted the crisis has cut about 12 million barrels per day from supply, with the Strait of Hormuz blockade intensifying disruption.
