In its statement, the IEA says the conflict has caused the largest supply disruption in the history of the global oil market, with shipping through the Strait of Hormuz, which normally accounts for around 20% of global oil consumption, reduced to minimal levels. Around 20 million barrels of crude oil and petroleum products usually pass through the strait.

According to the agency, the loss of these flows has significantly tightened markets, pushing crude oil prices above $100 a barrel and causing even sharper increases in refined products such as diesel, jet fuel and liquefied petroleum gas (LPG).

The IEA says restoring traffic through the Strait of Hormuz remains essential to stabilising global energy markets. In the meantime, countries are taking measures on both the supply and demand sides. On 11 March, IEA member states agreed to release 400 million barrels of oil from emergency reserves, the largest drawdown in the organisation’s history.

However, the agency argues that supply-side measures alone cannot fully offset the scale of the disruption. It says tackling demand is a critical and immediate way to reduce pressure on consumers, improve affordability and support energy security.

‘The war in the Middle East is creating a serious energy crisis, including the largest supply disruption in the history of the global oil market. If a rapid resolution is not achieved, the impact on energy markets and economies is expected to become increasingly severe,’ said IEA executive director Fatih Birol.

‘As the world’s leading energy authority, the IEA is doing everything it can to support the stability of energy markets. We recently launched the IEA’s largest ever release of emergency oil stocks, and I am in close contact with key governments around the world, including major energy producers and consumers, as part of our international energy diplomacy.

‘In addition, today’s report provides a series of immediate and concrete measures that can be taken on the demand side by governments, businesses and households to protect consumers from the impact of this crisis. It builds on the IEA’s many years of experience in this area and highlights measures that have proven effective in practice in different contexts. I believe it will be useful for governments around the world, in both developed and developing economies, in these challenging times.’

The 10 measures proposed by the IEA to reduce demand are:

  1. Work from home where possible.
    This reduces oil consumption linked to commuting, especially in jobs that can be done remotely.
  2. Reduce motorway speed limits by at least 10km/h.
    Lower speeds reduce fuel consumption for cars, vans and lorries.
  3. Promote public transport.
    Shifting from private cars to buses and trains can quickly reduce oil demand.
  4. Alternate private car access to major urban roads on different days.
    Alternating traffic access can reduce congestion and fuel-intensive driving.
  5. Increase car sharing and adopt efficient driving practices.
    Higher car occupancy and eco-driving can quickly cut fuel consumption.
  6. Improve driving efficiency for commercial vehicles and freight distribution.
    Better driving practices, vehicle maintenance and load optimisation can reduce diesel use.
  7. Divert LPG use away from transport.
    Switching dual-fuel and converted LPG vehicles back to petrol can preserve LPG for cooking and other essential needs.
  8. Avoid air travel where alternatives exist.
    Reducing business flights can quickly ease pressure on jet fuel markets.
  9. Where possible, switch to other modern cooking solutions.
    Encouraging electric cooking and other alternatives can reduce dependence on LPG.
  10. Use the petrochemical industry’s feedstock flexibility and introduce short-term efficiency and maintenance measures.
    The industry can help free up LPG for essential uses while reducing oil consumption through rapid operational improvements.

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