IEA Executive Director: Oil supply gap in April will be twice that of March.

Fatih Birol, the Executive Director of the International Energy Agency, stated in a podcast released on Wednesday that the agency is considering whether to release emergency oil reserves again and is recommending that governments take other energy-saving measures, such as promoting working from home and lowering speed limits for cars. Birol, speaking on a program hosted by Nicolai Tangen, CEO of the Norwegian bank investment management company, said, "The situation in April will be much more severe than in March." He explained that the oil supply in March benefited from shipments that were already en route before the outbreak of the Iran war, so the situation was relatively calm. He added, "The oil supply gap in April will be twice as large as in March." Last month, 32 member countries of the International Energy Agency, including the United States, released 400 million barrels of oil from emergency reserves to lower crude oil prices, marking the largest release in the history of the agency. Birol stated, "We are evaluating the market situation on a daily, even hourly, basis to decide whether to take further intervention measures."