Published on :
The International Energy Agency (IEA) fears a “shock” on world oil supply for the coming months due to the war in Ukraine. From April, she estimates that international markets could run out of at least two and a half million barrels of Russian oil a day. To quickly reduce fuel consumption, the agency advises the countries concerned to apply ten measures: travel less, share transport or drive more slowly.
« Due to Russia’s unjustified invasion of Ukraine and Western sanctions against Moscow, we estimate that from next month there will be a shortage of two and a half million barrels of Russian oil per day. “says Fatih Birol, Managing Director of the International Energy Agency.
« Second reason which will increase the pressure on the market, we are entering a season between March and August when the demand for oil is at its maximum. Third reason, the reserves of the oil industry are historically low. These three reasons mean that the market situation will be worse than today. »
The price per barrel above 100 dollars
The agency thus suggests reducing the authorized speed on the motorway by at least 10 km / h, teleworking up to three days a week or even organizing car-free Sundays in cities. It also recommends lowering the price of public transport, encouraging walking and cycling, using the train rather than the plane if possible, or even increasing the purchase of electric vehicles.
All of these ten measures would allow advanced countries to reduce oil consumption by 2.7 million barrels per day in four months, the equivalent of the consumption of the car fleet in China, according to the agency.
The Paris-based institution called on oil-producing countries to produce more to increase market supply. The agency hopes for a gesture at the next OPEC meeting scheduled for the end of the month. In the meantime, black gold prices continue to rise this Friday, March 18. Fears of a protracted conflict are only consolidating the price per barrel above $100.
► Read also : Oil: can Russian barrels be replaced?