Global oil consumption is on course to shrink this year for the first time since the COVID-19 pandemic, the International Energy Agency has said, as the war between the US and Iran throttled Gulf exports, though the IEA also noted supply increased in June.

The IEA forecasts the first annual decline in global natural gas demand since 2022 as the Iran conflict drives prices to their highest levels since January

Renewed escalation in the U.S.-Iran war could complicate matters and further cloud the outlook, the IEA warned Friday.

Global oil demand is showing signs of recovery as shipments through the Strait of Hormuz resume and crude prices ease, the International Energy Agency (IEA) said. While the agency…

The IEA noted that oil demand fell by 5.3 million bpd in May to 97.9 million bpd, hitting its lowest level this year

Global oil consumption is on course to shrink this year for the first time since the COVID-19 pandemic, the International Energy Agency has said, as the war between the US and…

Global oil demand is set to decline this year for the first time since 2020

The main exception to the global slump in oil usage was in the U.S., where gasoline use increased in the second quarter of 2026.

The IEA projects global oil demand to fall by 1M barrels per day in 2026, the first annual decline since 2020. Here's what it means for crypto markets.

Global energy demand has started to recover as oil shipments through the Strait of Hormuz partially resumed in June, the IEA said.