IEA urges reduced transport to cut oil use amid supply crunch

The International Energy Agency (IEA) on Friday unveiled a 10-point plan to reduce oil use focused mostly on reducing transportation as Russia’s invasion of Ukraine deepens concerns about supply.

“Since the majority of oil demand comes from transport, the IEA’s 10-Point Plan focuses on how to use less oil getting people and goods from A to B, drawing on concrete measures that have already been put to use in a diverse range of countries and cities,” the IEA said in a report.

The recommendations could reduce oil demand by 2.7 million barrels a day within four months, the IEA said, with measures including lower speed limits, working from home, car-free days in cities, cheaper public transport and more carpooling.