What the Iran war has done to the world’s energy supply, in charts
Summary
An energy conference is taking place in Riyadh despite a recent attack on the city’s airport. The meeting gathers 68 countries that produce and use most of the world’s oil and gas, focusing on how the war involving Iran has affected global energy supplies and routes.Key Facts
- A Houthi attack on Riyadh’s King Khalid International Airport killed 12 people and injured 309.
- The 25th World Petroleum Council Energy Congress and the 17th International Energy Forum are being held in Riyadh as part of Riyadh Energy Week.
- Italy is joining the forum remotely, and Nigeria is sending a representative.
- The IEF includes 68 countries responsible for over 90% of global oil and gas supply and demand.
- Fossil fuels, including oil, coal, and gas, make up about 81% of the world’s energy use, with oil as the largest source (31.4%).
- The Middle East is the largest oil producer, and three narrow sea routes (Strait of Hormuz, Bab al-Mandeb, and Suez Canal) are key for transporting energy worldwide.
- The Iran war and conflicts in Yemen have reduced traffic through these routes, slowing shipments and raising costs.
- Countries like Eritrea, Madagascar, Pakistan, Japan, and Kenya depend heavily (over 75%) on oil from the Middle East and face higher prices and delivery delays.
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