Energy crisis could hinder economic recovery

The International Energy Agency (IEA) said it is considering the possibility of a global energy crisis, which will further increase inflation and impede a rapid economic recovery. Experts also expect that the onset of the crisis will increase oil demand by 500,000 barrels per day due to high prices for coal and gas and power outages due to shortages.

The IEA predicts that oil demand will outpace supply until at least the end of 2021, as OPEC + plans to produce 700,000 barrels per day below expected demand.