MARKETS

IEA issues "red alert" For European energy markets

AFTER calling on all member states to reduce gas consumption by around 15% in the face of the threat of a complete Russian natural gas cutoff, IEA head Fatih Birol said the bloc will need to cut even more in order to get through the winter.

Tim Daiss

IEA issues "red alert" For European energy markets

"Even if there is no single accident Europe still needs to reduce its gas consumption about 20% compared to today in order to have safe and normal winter months," he said, issuing what he called a "red...

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