IEA Cuts 2026 Oil Demand Forecast Amid Middle East Conflict
The International Energy Agency (IEA) has cut its forecast for global oil demand in 2026, citing prolonged tensions between the US and Iran, disruptions to oil flows, and soaring refined-product prices.
The IEA's September Oil Market Report projected a 2.5 million barrels per day decline in global oil demand, a steeper drop than previously anticipated.
This downward revision is largely due to continuing disruptions caused by the Middle East conflict, which has delayed expectations of normalized flows into 2027.