IEA asks people to reduce oil consumption amid price surge
With oil prices spiking past $100 a barrel thanks to Middle East conflict, the International Energy Agency (IEA) is asking everyone to pitch in: work from home if you can, drive a little slower, carpool or use public transportation, and try to cut back on flights.
The crisis has hit global oil supplies hard, especially through the vital Strait of Hormuz.
Teamwork between producers and consumers is key right now
To help calm things down, IEA countries just released 400 million barrels from emergency reserves - the biggest release ever.
But as IEA executive director Fatih Birol put it, Supply measures alone can't fix everything, so teamwork between producers and consumers is key right now.
Energy costs could get tougher
The IEA also suggests creative fixes like alternating driving days based on license plates and encouraging smarter driving for delivery trucks.
Birol warned that if things don't improve soon, energy costs could get even tougher, so cutting demand quickly matters for everyone's wallet and energy security.