The world is facing a worse energy crisis than the twin oil shocks of the 1970s and the fallout of the Ukraine war combined, the head of the International Energy Agency (IEA) has warned.

The global oil market is once again entering a period of sharp turbulence. Geopolitical conflicts, threats to critical energy transport routes, and rising inflation expectations have pushed energy prices upward. At first glance, such developments might seem to benefit oil-exporting countries. After all, higher prices mean higher revenues. Yet the reality of the modern energy economy is far more complex. Extremely high oil prices can be just as problematic for producers as a dramatic collapse in the market.

By Maria Zhigadlo

Officials in neighboring Moldova announced on Monday that the energy crisis in the breakaway region of Transnistria, which has left hundreds of thousands without heating and hot water, may soon come to an end, News.az reports citing Politico.

Asif Aydinly

News.Az presents an interview with Moldovan expert Sergey Unguryanu.

The Iranian government has announced measures to address the country’s ongoing energy crisis, including a hike in household gas tariffs and the controversial decision to use mazut in power plants.