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Commodities

IEA Trims Global Oil Demand Forecast Amid Middle East Disruptions

Guavy AI Editorial Team
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Oil
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The International Energy Agency (IEA) has revised its forecast for global oil demand downward by 1.6 million barrels per day in 2026 due to disruptions in the Strait of Hormuz and elevated fuel prices.

This revision reflects a more cautious outlook on global oil consumption, taking into account geopolitical and economic factors that are affecting market dynamics.

The IEA's revised demand forecast indicates that oil demand will fall significantly in the second and third quarters of 2026 before rebounding in the final quarter of the year.

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