The International Energy Agency (IEA) has stressed that restoring transit through the Strait of Hormuz is vital for stabilizing global energy markets. IEA Executive Director Fatih Birol warned that without a swift resolution, the impacts on energy markets could become increasingly severe. He highlighted that the agency is taking active steps to support stability, including the largest-ever release of emergency oil stocks and ongoing coordination with major energy-producing and consuming countries.
The IEA also outlined practical measures governments can implement to reduce energy demand, drawing from decades of experience and proven strategies. These include encouraging remote work to reduce commuting and oil use, lowering highway speed limits to decrease fuel consumption for cars and trucks, promoting public transport to shift commuters away from private vehicles, and implementing alternate private car usage schemes in large cities to reduce congestion. Increasing car-sharing, adopting efficient driving practices, and improving vehicle maintenance and load optimization can also help lower diesel consumption.
Additionally, diverting LPG use from transport to preserve it for cooking and essential needs, avoiding non-essential air travel, and switching to modern cooking solutions such as electric cooking can further reduce energy demand. Industries can also adjust petrochemical feedstock use and optimize operations to free up LPG and decrease oil consumption. These measures form part of the IEA’s recommended actions to mitigate energy pressures and maintain global market stability.
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