• Fatih Birol
    Oil and gas production recovery could take up to two years, meaning volatile energy markets for some time.
    Some LNG terminals may take even longer.
  • Asks for impact under a more pessimistic, prolonged war scenario.
    Chris C. F. R. Lange
  • Fatih Birol
    Prolonged conflict would have serious implications for global economy, worst for energy-importing emerging countries in Asia and Africa.
    Higher oil prices and fertilizer supply disruption could push up food prices, damaging economies with weaker currencies and financial masses.
  • Asks if significant economic impact and demand destruction are already visible.
    Chris C. F. R. Lange
  • Fatih Birol
    Yes, many countries already see rationing and capacity reductions in industry, with upward inflation pressure starting to pass through.
    Reiterates that energy importers in emerging/developing world will suffer most.
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