MOSCOW, June 17. /TASS/. The International Energy Agency (IEA) expects global oil demand to decline by 1.1 mln barrels per day (bpd) in 2026 amid the conflict in the Middle East, according to the agency's latest report.
The agency thus revised its demand forecast downward by 735,000 bpd compared with its May outlook, when it projected a decline of 418,000 bpd.
The IEA noted that demand dropped sharply in April and May, when statistical data began to reflect the significant consequences of the Middle East crisis.
The agency expects conditions to improve in the second half of the year. In the third quarter, oil demand could decline by 1.7 mln bpd year-on-year, but is expected to return to growth of 1.1 mln bpd in the fourth quarter of this year.
According to the forecast, global oil demand will average 103.292 mln bpd in 2026, compared with 104.41 mln bpd in 2025. In 2027, the agency expects oil demand to reach 105.295 mln bpd.
