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International Energy Agency Recommends Remote Work and Reduced Air Travel to Ease Oil Price Pressure
Earlier this month, after agreeing to release a record amount of oil from strategic reserves, the International Energy Agency (IEA) proposed measures to ease the pressure of rising oil prices on consumers, such as remote work and avoiding air travel.
The conflict between the U.S. and Iran has driven up energy prices, sparking global concerns about inflation.
The IEA stated that its recommendations are actions that governments, businesses, and households can take to mitigate the recent surge in energy prices and reduce the burden on consumers.
The IEA suggested measures including working from home, reducing highway speed limits by at least 10 kilometers per hour, and avoiding air travel when alternative transportation options are available.
Fatih Birol, Executive Director of the IEA, said in a statement, “We have recently launched the largest emergency oil reserve release in IEA history — as part of our international energy diplomacy, I am maintaining close contact with governments around the world, including major energy-producing and consuming countries.”
Birol added, “Additionally, today’s report provides a series of immediate, specific demand-side measures that governments, businesses, and households can implement to help consumers withstand the impact of this crisis.”