Director-General of the International Energy Agency: The continued closure of the Strait of Hormuz will cause April’s losses of crude oil and refined products to double.

Deep Tide TechFlow message, April 05, according to the Financial Times in the UK, the head of the International Energy Agency, Birol, warned that if the Strait of Hormuz is not reopened for shipping, the amount of crude oil and refined products we lose in April will be twice the amount we lost in March. Even if the conflict ends, it will still take a long time to return to normal. “We track, hour by hour, all the key energy assets in the area every day,” he refers to oil and gas fields, pipelines, refineries, and liquefied natural gas terminals. “At present, 72 energy assets are damaged, including one-third that are severely or very severely damaged,” he added. Birol praised Saudi Arabia’s rapid response to the crisis, saying that the country rerouted more than two-thirds of its oil exports through a pipeline to the Red Sea. Birol said that Saudi Arabia’s top authorities assured him that this critical pipeline is well protected. But Birol noted that if this route is attacked, the consequences for the global economy would be extremely severe.