00:00The head of the International Energy Agency said Monday that the global economy faces a major, major threat because of
00:09the Iran war.
00:10Fatih Birol told Australia's National Press Club in Canberra that the war in the Middle East has severely damaged more
00:17than 40 energy assets across nine countries,
00:20as he warned of deepening risks to the global economy.
00:23I think no country will be immune to the effects of this crisis if it continues to go in this
00:36direction.
00:37So there is a need for global efforts around the world.
00:41He said the crisis in the Middle East has had a worse combined impact than the two oil shocks of
00:47the 1970s and the effect on gas markets of the Russia-Ukraine war.
00:51Oil prices continued to climb as the end of the Iran war was not in sight.
00:57The official added that he was consulting with governments in Europe and Asia about the prospect of releasing further stockpiled
01:04oil.
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