Head of International Energy Agency says oil security remains a 'critical issue'

The head of the International Energy Agency, Fatih Birol, said on Thursday that if the US and Iran do not unite to improve flows of oil through the vital Strait of Hormuz, the world should soon be concerned about energy security.

"Oil security is still a critical issue," Birol told a Council on Foreign Relations event. "We should be worried, and I am worried if the situation does not improve in the next few weeks."