Economy · World

IEA Lowers Global Oil Demand Forecast for 2026

2 sourcesFirst reported 1 month agoUpdated 1 month ago

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The International Energy Agency (IEA) revised its oil demand forecast downwards for 2026.
The report highlights the significant impact of the ongoing conflict in the Middle East on the oil market.
Global oil demand is expected to decrease by 1.1 million barrels per day this year.
Deliveries in the second quarter of 2026 show a nearly 5% decline year-on-year.
Oil reserves continue to shrink at record rates, notably within OECD countries.

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AI summary: catch up in 20 seconds

The International Energy Agency (IEA) revised its oil demand forecast downwards for 2026.
The report highlights the significant impact of the ongoing conflict in the Middle East on the oil market.
Global oil demand is expected to decrease by 1.1 million barrels per day this year.
Deliveries in the second quarter of 2026 show a nearly 5% decline year-on-year.
Oil reserves continue to shrink at record rates, notably within OECD countries.

Generated by AI from the 2 sources below · always verify with the originals