Oil giants raise the alarm over energy shortages as Iran war drags on
By Michael Considine
Published on March 25, 2026.
A trio of European energy CEOs have warned of potential energy shortages due to the ongoing conflict in Iran and decreased access to the strategically vital Strait of Hormuz. Concerns have been particularly felt in Asian countries, with Japan's Prime Minister asking the International Energy Agency for an additional release from global crude stockpiles. The global energy watchdog has already coordinated the release of 400 million barrels of oil among its member countries.
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