Former Finance Minister Warns Current Oil Crisis Largest in World History
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The current oil crisis represents the largest disruption to global oil trade in world history, according to former Slovak Finance Minister Ivan Mikloš, citing data from the International Energy Agency. The crisis has created a daily shortage compared to February 2022 levels that exceeds the previous record set during the 1979 oil crisis following Iran's Islamic Revolution, which removed 5.6 million barrels per day from global markets. Mikloš, who served as finance minister in previous Slovak governments, has outlined policy recommendations for how governments should respond to the energy disruption, though the specific details of his proposals were not provided in the available source material.