May 28, 2026 · 22 min · 11 segments
He recently orchestrated the largest-ever release of oil stocks amid market disruptions from the Middle East conflict. The International Energy Agency Chief, Fatih Birol, joins The Europe…
So in that sense, is the situation, the outlook now for Europe looking relatively better compared to two months ago? Or is this still uncertainty? Because we're seeing the Commission just got their forecast
And what does that mean this year?
And until, of course, we don't know what will happen with the state of Hormuz, I very much hope that very soon we get a fully and unconditional opening of the state of Hormuz.
If it doesn't happen, the problem with the jet fuel and diesel and beyond will be with us for weeks to come.
And is there a timeline that you foresee? Because the Trump administration has been saying now for weeks that there is a plan.
So is there a timeline that you work with?
I very much hope that the Strait of Hormuz is open fully and unconditionally, because in the absence of the opening of the state, we will have serious problems with both the energy sector, but also agricultural sector, because a lot of fertilizers go from the state.
So we are seeing on one hand the supply, the production of the energy and the fertilizers are going down.
The U.S. was very critical of the Europeans, certainly in the context of NATO, that they are not, quote, doing enough to reopen the Strait of Hormuz.
Is there a form of criticism on the Europeans for your part, or do you understand where they're coming from? They cannot just open this overnight, and this is a global crisis.
I mean, geopolitical situation is very fragile, and it is not a secret that there are different views between the countries, even the two sides of Atlantic.
But despite that, I can tell you that one of the reasons why we are not in a worse shape today, International Energy Agency, 11th of March, I announced that we released 400 million barrels of oil.
So in that sense, is the situation, the outlook now for Europe looking relatively better compared to two months ago? Or is this still uncertainty? Because we're seeing the Commission just got their forecast
And what does that mean this year?
And until, of course, we don't know what will happen with the state of Hormuz, I very much hope that very soon we get a fully and unconditional opening of the state of Hormuz.
If it doesn't happen, the problem with the jet fuel and diesel and beyond will be with us for weeks to come.
And is there a timeline that you foresee? Because the Trump administration has been saying now for weeks that there is a plan.
So is there a timeline that you work with?
I very much hope that the Strait of Hormuz is open fully and unconditionally, because in the absence of the opening of the state, we will have serious problems with both the energy sector, but also agricultural sector, because a lot of fertilizers go from the state.
So we are seeing on one hand the supply, the production of the energy and the fertilizers are going down.
The U.S. was very critical of the Europeans, certainly in the context of NATO, that they are not, quote, doing enough to reopen the Strait of Hormuz.
Is there a form of criticism on the Europeans for your part, or do you understand where they're coming from? They cannot just open this overnight, and this is a global crisis.
I mean, geopolitical situation is very fragile, and it is not a secret that there are different views between the countries, even the two sides of Atlantic.
But despite that, I can tell you that one of the reasons why we are not in a worse shape today, International Energy Agency, 11th of March, I announced that we released 400 million barrels of oil.
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