PARIS : In response to the effects of the US-Israeli conflict with Iran, the International Energy Agency (IEA) released a record quantity of oil from strategic reserves. The IEA suggested on Friday that consumers could work from home and refrain from flying in order to ease the impact of rising oil prices.
The US-Israel war with Iran has led to an increase in energy prices, which has raised concerns about inflation globally.
IEA stated
The International Energy Agency stated that its recommendations were steps that people, businesses, and governments might take to lessen the suffering caused by the recent increase in energy prices.
The IEA suggests working from home, reducing speed limits on highways by at least 10 km/h, and avoiding flying if there are other ways to get about.
IEA executive director Fatih Birol stated in a statement, “We just launched the largest ever release of IEA emergency oil inventories as part of our worldwide energy diplomacy. Major energy producers and users, as well as important governments worldwide, are in close communication with me.
According to Birol, “In addition to this, today’s report offers a menu of immediate and concrete measures that can be taken on the demand side by governments, businesses, and households to shield consumers from the impacts of this crisis.”
On March 11, the IEA decided to release a record 400 million barrels of oil from strategic inventories, with the United States supplying the majority of the supply, in an effort to combat the spike in global petroleum prices.
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Concerns about global inflation have been raised by the escalation of energy prices due to the conflict between the United States and Iran. The IEA asserted that its proposals were actions that governments, businesses, and families might take to alleviate consumer hardship brought on by the recent rise in energy prices.
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These recommendations, according to the IEA, included working from home, reducing speed limits on highways by at least 10 km/h, and refraining from flying if there were alternative modes of transportation.
“In addition to this, today’s report provides a menu of immediate and concrete measures that can be taken on the demand side by governments, businesses and households to shelter consumers from the impacts of this crisis,” said Birol.
In an effort to combat the global increase in petroleum prices, the IEA decided on March 11, 2026, to release a record 400 million barrels of oil from strategic stores, the most of which came from the United States.
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