Energy Crisis Likely to Hit Advanced Economies Less Than in 1970s -- Market Talk

Dow Jones04-17

0811 GMT - Advanced economies look better prepared to weather the current energy crisis than they were in the 1970s, Joerg Kraemer at Commerzbank says in a note. Head of the International Energy Agency Fatih Birol said recently that the current energy shock is worse than those of 1973, 1979 and 2022 combined. Daily crude production has indeed fallen steeper than previously, Kraemer says. However, modern economies are less energy intensive, strategic reserves are larger and the U.S. is now a net exporter of oil and LNG, he says. In 1974, oil prices rose 250%, compared with a projected 60% in 2026. But risks could mount if disruption persists. "It still seems too early to sound the all-clear," Kraemer says. (don.forbes@wsj.com)

(END) Dow Jones Newswires

April 17, 2026 04:11 ET (08:11 GMT)

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