Global Inflation Warning from International Energy Agency Head Birol
Speaking at an event in Antalya, IEA President Fatih Birol emphasized that the increase in diesel prices will put upward pressure on global inflation.
International Energy Agency President Fatih Birol stated at an event held in Antalya that the rise in diesel prices will put upward pressure on global inflation and evaluated developments in energy markets.
Meeting in Antalya
International Energy Agency President Fatih Birol delivered the opening speech at the 'Beyond Climate: Towards Antalya' meeting organized by Oksijen Newspaper with Koç Holding as the main sponsor.
Increase in Diesel Prices
President Fatih Birol pointed out that following the war between the US, Israel, and Iran, diesel prices have approximately doubled compared to before the war.
Inflationary Pressure
Fatih Birol stated that this rapid rise in diesel prices will exert upward pressure on inflation figures worldwide in a very short period of time.
Oil Markets and Refineries
Stating that oil prices are hovering around 100 dollars, Birol emphasized that refined petroleum products, particularly diesel, are of vital importance rather than crude oil prices alone.
Refinery Damages and China Emphasis
It was noted that along with high crude oil prices, the damage to refineries in the Middle East and Russia and the decrease in exports have been influential in the rise of diesel prices.
Critical Minerals and China's Position
Touching upon China's strong position regarding critical minerals, International Energy Agency President Fatih Birol stated that if Iran has the Strait of Hormuz, China has five Hormuzes.