Work from home, drive slower and don't use gas cookers: IEA advice on weathering the global energy crisis

"Supply measures alone won't be enough to mitigate 'the largest supply disruption in the history of the global oil market' amid an escalating conflict in the Middle East. Instead of waiting for disrupted production to recover, lowering demand could ease pressure on consumers and help bring prices down more quickly."

"Heightened geopolitical risk has rattled traders, sending not only crude prices higher but also sharply increasing costs for refined products such as diesel and jet fuel, which directly impact transportation, logistics and consumer prices."

"Countries have already begun tapping strategic petroleum reserves, with hundreds of millions of barrels slated for release. The IEA last week agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war."

The International Energy Agency warns that supply measures alone cannot address the significant supply disruption in the global oil market due to escalating Middle East conflicts. Reducing demand through minimizing transport, remote work, and switching to electric cooking can help alleviate consumer pressure and lower prices. Oil prices have surged over 40% since the U.S.-Iran war began, with strategic petroleum reserves being tapped to address the crisis. Coordinated efforts to reduce consumption are crucial for providing immediate relief to consumers.

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