IEA says Middle East energy recovery could take two years after conflict

QatarEnergy's liquefied natural gas (LNG) production facilities, amid the U.S.-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. REUTERS/Stringer TPX IMAGES OF THE DAY

LONDON, April 18 — It could take about two years for Middle East energy output disrupted by the conflict in the region to return to pre-war levels, International Energy Agency Executive Director Fatih Birol said in an interview published on Friday.

Birol told Switzerland’s Neue Zuercher Zeitung that the recovery period would vary by country, adding that it would likely take longer in Iraq than in Saudi Arabia.

He also warned that markets were underestimating the consequences of a prolonged closure of the Strait of Hormuz, a key route for global oil and gas shipments.

Birol said deliveries that had already been en route before the war in Iran began had reached their destinations, helping to soften the immediate impact of supply shortages.

But he said no new tankers were loaded in March, leaving Asian markets without fresh deliveries of oil, gas or fuels and making the supply gap increasingly visible.

“If the Strait of Hormuz is not reopened, we must be prepared for significantly higher energy prices,” Birol said, according to the newspaper.

Asked whether the IEA could carry out another release of emergency oil reserves following its move in March, Birol said the agency was ready to act immediately and decisively.

“We’re not there yet, but it’s definitely under consideration,” he said.