New Delhi: The International Energy Agency (IEA) has recommended a set of fuel-saving measures, including working from home, to help countries cope with a global squeeze triggered by disruptions in crude oil supply.
In its report, the agency said the conflict in the Middle East has affected fuel flows worldwide, with cargo and oil tanker movement through the Strait of Hormuz facing disruption. It noted that the route typically carries about 15 million barrels of crude oil and around 5 million barrels of other products.
According to the IEA, this corridor accounts for roughly 20% of global oil consumption, and the current situation has hit international oil markets at an unprecedented scale. Crude prices have risen above $100 per barrel, pushing up the cost of refined products such as diesel, aviation fuel and cooking gas.
To manage the impact, the agency said governments, businesses and households can adopt conservation steps. Suggestions include working from home, reducing minimum highway driving speeds by 10 kmph, using public transport, carpooling, limiting private vehicle use in large cities, and cutting down on air travel.
