The International Energy Agency has proposed a package of suggestions aimed at mitigating the economic impacts resulting from disruptions in oil supply, amidst escalating tensions in the Middle East, which have cast a shadow over the stability of global energy markets.
The agency clarified that addressing this crisis requires a joint effort that is not limited to governments alone but also includes companies and individuals, in an attempt to reduce energy consumption and alleviate pressure on supplies.
In this context, it called for adopting practical measures such as expanding remote work, reducing speeds on highways by no less than 10 kilometers per hour, along with limiting air travel whenever suitable alternatives are available.
The agency's Executive Director Fatih Birol confirmed that the world is facing one of the most sensitive periods in energy markets, noting that the agency has already resorted to implementing the largest draw from emergency oil reserves in its history, in an attempt to contain the ramifications of the crisis and support market stability.
He added that there is ongoing coordination with a number of major governments around the world, whether from energy-producing or consuming countries, with the aim of ensuring an effective collective response to current challenges and reducing the risks of exacerbating the crisis.
The agency clarified that addressing this crisis requires a joint effort that is not limited to governments alone but also includes companies and individuals, in an attempt to reduce energy consumption and alleviate pressure on supplies.
In this context, it called for adopting practical measures such as expanding remote work, reducing speeds on highways by no less than 10 kilometers per hour, along with limiting air travel whenever suitable alternatives are available.
The agency's Executive Director Fatih Birol confirmed that the world is facing one of the most sensitive periods in energy markets, noting that the agency has already resorted to implementing the largest draw from emergency oil reserves in its history, in an attempt to contain the ramifications of the crisis and support market stability.
He added that there is ongoing coordination with a number of major governments around the world, whether from energy-producing or consuming countries, with the aim of ensuring an effective collective response to current challenges and reducing the risks of exacerbating the crisis.