Singapore City, April 23 -- The International Energy Agency (IEA) has issued a stark warning regarding the global energy landscape, with its chief stating that the world is currently "facing the biggest energy security threat in history," as reported by CNBC on Thursday.

Fatih Birol, the Executive Director of the IEA, revealed that the global market has "lost 13 million barrels per day of oil" to date, alongside "major disruptions in vital commodities."

Speaking virtually at an industry event in Singapore, Birol reiterated his earlier concerns that the ongoing conflict involving Iran and the sustained closure of the Strait of Hormuz would culminate in "the largest energy crisis we have ever faced." In light of these challenges, he urged...