IEA urges ‘emergency measures’ to cut oil demand amid supply fears

The International Energy Agency on Friday urged governments to implement immediate measures to cut global oil consumption within months following supply fears stemming from Russia’s invasion of Ukraine.

The 10 proposals put forward in a report, including increasing working from home and reducing speed limits, could cut oil consumption among advanced economies “by 2.7 million barrels a day within the next four months,” the IEA said.