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The plan by the Paris-based grouping of 31 industrialized countries - which does not include Russia - underlines the urgency of a supply crunch brought on by sanctions and buyer aversion to Russian oil, which has raised fuel prices. The recommendations - which include lower speed limits, working from home, car-free days in cities, cheaper public transport and more carpooling - could cut oil demand by 2.7 million barrels a day within four months, the International Energy Agency (IEA) said. The IEA urged governments to make the changes permanent, not just for economic reasons but in order to combat climate change.

IEA urges reduced transport to cut oil use amid supply crunch

The plan by the Paris-based grouping of 31 industrialized countries – which does not include Russia – underlines the urgency of a supply crunch brought on by sanctions and buyer aversion to Russian oil, which has raised fuel prices. The recommendations – which include lower speed limits, working from home, car-free days in cities, cheaper public transport and more carpooling – could cut oil demand by 2.7 million barrels a day within four months, the International Energy Agency (IEA) said. The IEA urged governments to make the changes permanent, not just for economic reasons but in order to combat climate change.

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