On the 25th the head of the International Energy Agency, Birol, said that the world is in the “first real global energy crisis”, and the current global energy market still needs energy from Russia to meet demand.
Rising global energy prices are driving soaring prices for food and services in many parts of the world, hurting people in many countries. Continued high energy prices and supply shortages will be a persistent risk for Europeans as the northern hemisphere enters winter. He said that if this winter is a mild winter, Europe may be able to survive this winter, but Europe will still pay a huge price for energy shortages.