IEF calls for stronger producer-consumer cooperation

…raises alarm on insufficient data on fuel stock

The International Energy Forum (IEF) has called for stronger producer–consumer cooperation to restore market stability amid ongoing supply shocks and heightened geopolitical tensions in the Middle East.

Operating as a neutral platform for producer-consumer dialogue, the organization stressed that navigating the current volatile risk environment requires urgent cooperation and robust data sharing among its diverse membership.

In a statement issued from Riyadh, Saudi Arabia, the IEF outlined three shared principles designed to guide government responses, restore market confidence, and safeguard global economic growth.

The IEF emphasized the absolute necessity of preserving the inviolability of critical energy infrastructure and international trade routes, including both land and maritime corridors.

According to the Forum, disruptions to energy shipments and essential public services disproportionately target vulnerable populations first.

It also cited the cascading effects of such disruptions threaten to severely limit global economic growth and delay vital development prospects by decades.

To mitigate these risks, the IEF called for a focused dialogue on security of supply and demand considerations, market diversification opportunities, and risk management options to reduce transaction costs across global energy markets.

Highlighting the complex interdependencies that build the broader global economy, the IEF noted that three successive energy system shocks have proven how deeply interconnected producers and consumers remain across traditional oil and gas sectors, refined products, and critical minerals.

Decisions or disruptions in one part of the system can rapidly trigger severe consequences for affordability and supply chain resilience elsewhere.

The current energy crisis has exposed significant data gaps and reporting delays regarding key market fundamentals. The IEF raised concerns over persistent blind spots caused by insufficient reporting on strategic oil and gas stocks, national and international bunker fuels, and middle distillates such as gasoil, diesel, gasoline, and jet fuel.

The organization warned that sovereign and commercial anxieties are driving entities to withhold data in an increasingly competitive and adverse geopolitical climate.

To address this, the IEF called for a greater commitment to sharing timely, complete, and granular primary data through official statistical offices and the Joint Organizations Data Initiative (JODI). Transparent reporting is deemed the cornerstone for detecting emerging imbalances, reducing market distortions, and restoring price stability at affordable levels.

As energy markets shift and adapt to new technology environments, the IEF encouraged producers and consumers to avoid reactive policy reflexes that retreat from international markets. Such isolationist steps often prove cumbersome and costly for governments and households already facing a persistent cost-of-living crisis.

Instead, the forum advocated for a holistic, systems-based approach to balancing demand and supply security. This includes deepening dialogue on the cost and maintenance of spare capacity, emergency measures, strategic inventories, and the development of alternative transit points to mitigate vulnerabilities at critical shipping chokepoints.

The IEF concluded that past and ongoing shocks have exposed the clear limitations of current contingency plans within the crude oil, natural gas, LNG, and critical mineral sectors. Expanding the scope of collaborative dialogue to support essential commodities ranging from fertilizers to critical minerals like copper and neodymium will contribute heavily to long-term market stability and rational responses during future disruptions.