IEA urges govts to slash global oil consumption within months

18/03/2022 Argaam

Oil barrels

The International Energy Agency (IEA) urged governments, on March, to implement immediate measures to cut global oil consumption within months amid supply concerns stemming from Russia's invasion of Ukraine, Reuters reported.

 

The Paris-based agency said that increasing working from home and reducing speed limits, could cut oil consumption among advanced economies by 2.7 million barrels per day within the next four months.

 

IEA hopes that the next OPEC+ meeting will mitigate oil markets pressure.

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