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IEA cuts 2026 oil demand forecast again
PARIS: The International Energy Agency on Wednesday sharply reduced its forecast for global oil demand this year, as supplies remain crimped by the closure of the Strait of Hormuz and high prices deter buyers. Demand is expected to slump by 1.6 million barrels per day, compared with its forecast slump of 1 million barrels in its previous monthly report in July. Crude prices have remained well above levels seen before the US and Israeli attacks on Iran in late February.
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cnbc.com
Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says
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.
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channelnewsasia.com
IEA cuts 2026 oil demand forecast again as Hormuz remains shut
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…
