New Delhi, March 20 (IANS) As the West Asia crisis escalates, the International Energy Agency (IEA) on Friday set out a range of demand-side actions — including work from home and avoiding air travel — for governments, businesses and households to alleviate the economic impacts on consumers.Among the immediate actions to reduce demand is work from home where possible — displacing oil use from commuting, particularly where jobs are suitable for remote work.Where possible, switch to other mo…
Latest Global Oil Market News & Updates
New Delhi, March 13 (IANS) The US waiver for buying seaborne Russian crude has immediately freed another 20-odd million barrels of oil on board ships which is expected to cool runaway prices that have crossed the $100 per barrel mark in the global market amid the Iran war.There are currently around 25 ships carrying Russian crude at sea while another five ships are carrying petroleum products. These can be diverted immediately to destinations from where the demand emanates.The temporary waiver c…