The IEA says 2026 global oil supply will fall 3.7 mb/d as Hormuz closure persists, marking the largest supply disruption the agency has ever

The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.

PARIS: The International Energy Agency on Wednesday (Aug 12) sharply reduced its forecast for global oil demand this year, as supplies remain crimped by the closure of the Strait…

Agency now sees global supply averaging 102 million bpd this year