The agency said governments, businesses and households could take immediate steps to reduce fuel demand and mitigate the impact of rising costs, following its decision earlier this month to release record volumes of oil from emergency reserves.

In its latest guidance, the IEA said practical actions such as increased remote work, lower highway speed limits and reduced reliance on air travel could help curb fuel consumption in the short term. The proposals are aimed at softening the burden on consumers facing higher energy bills.

The agency framed the recommendations as part of a broader strategy to complement supply-side interventions, emphasizing coordinated action across sectors to stabilize markets.

The IEA earlier agreed to release 400 million barrels of oil from strategic reserves, marking the largest such move in its history. The United States is contributing the majority of the supply, reflecting its central role in global energy coordination efforts.

IEA Executive Director Fatih Birol said the agency remains in close contact with key governments, including major producers and consumers, as part of ongoing energy diplomacy efforts.

“We have recently launched the largest ever release of IEA emergency oil stocks,” Birol said in a statement, adding that discussions with governments are continuing to address market volatility.

The spike in oil prices linked to the conflict has intensified concerns over inflation worldwide, as higher energy costs ripple through transport, manufacturing and household expenses.

Birol said the latest report provides “a menu of immediate and concrete measures” that can be implemented quickly to shield consumers, highlighting the importance of reducing demand alongside boosting supply in times of crisis.

Rising energy costs linked to the conflict and fears of a renewed refugee influx have elevated the Middle East crisis to a central issue at the summit, officials said, alongside efforts to secure agreement on a 90 billion-euro ($104 billion) loan intended to support Ukraine’s war-strained finances.

Energy and Middle East concernsLeaders are weighing options to mitigate economic shocks from the conflict, including proposals from the European Commission for a “toolbox” of measures aimed at lowering energy prices across the 27-nation bloc. A senior EU diplomat said no single policy would suit the bloc’s diverse energy markets, underscoring the complexity of the response.

Several EU countries have resisted calls from U.S. President Donald Trump to deploy military assets to safeguard the Strait of Hormuz, a critical artery for global shipments of oil, gas and fertilizer, reflecting caution over deeper involvement in the conflict.

The summit is also focused on a standoff between Hungarian Prime Minister Viktor Orbán and other EU leaders over the Ukraine loan agreed in principle in December. Orbán withdrew support after disruptions to the Druzhba oil pipeline earlier this year, citing energy security concerns.

“If there is no oil, there is no money,” Orbán said in a social media post, linking Hungary’s backing of the loan to stable energy supplies.

EU officials are seeking to persuade Hungary and Slovakia, whose Prime Minister Robert Fico has also adopted pro-Russia positions, to lift their objections. European Commission President Ursula von der Leyen has preposed EU funding to repair the Druzhba pipeline and develop alternative supply routes for both countries.

Ukrainian President Volodymyr Zelensky said blocking the loan was “absolutely unfair,” stressing that the funds are essential as Kyiv faces a deepening budget crisis amid its war with Russia, which began in February 2022.

German Chancellor Friedrich Merz urged swift agreement on both the loan and a new package of sanctions against Moscow, warning against allowing domestic political considerations within member states to hinder collective action.

He said the EU must “increase the pressure on Moscow together,” in coordination with the United States, as leaders gather to reconcile internal divisions with mounting geopolitical and economic pressures.