Work from home and slow down on the road: world’s energy watchdog advises emergency measures as oil prices rise
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The International Energy Agency (IEA) is advising member countries, including Australia, the UK, and the US, to implement emergency measures to curb oil demand due to supply disruptions caused by Middle East conflict. These measures aim to combat soaring oil prices and potential fuel shortages. The IEA recommends reducing highway speed limits, encouraging work from home and public transport, limiting car access in cities via number plate restrictions, and promoting carpooling. These actions are designed to reduce reliance on road transport fuels, which constitute a large portion of oil consumption. The IEA has already released oil reserves and is considering further releases, but emphasizes demand restraint as a crucial emergency response.
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AI-ExtractedDemand restraint is one of the emergency response measures that all IEA member countries are required to have ready.
The IEA ordered the largest release of government oil reserves in its history.
The IEA advises reducing highway speeds and encouraging work from home to combat soaring oil prices.
Military strikes on Iran have triggered significant supply disruptions in the global oil market.
Concerns intensified after energy infrastructure was targeted, raising the risks of a long-term cut to supplies.
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