Middle East Oil Output May Take Two Years to Recover

The Middle Eastern producers may need up to two years to restore their oil and gas output to the levels from before the war, according to Fatih Birol, the executive director of the International Energy Agency (IEA). “We estimate that it would take about two years for the Gulf region to reach pre-war levels again,” Birol told Swiss newspaper Neue Zürcher Zeitung in an interview published on Friday. The timeline for the return of supply will vary from one country to another, Birol said, adding that Iraq would need…