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IEA forecasts first global oil demand contraction since 2020 for 2026

The IEA projects a 1 million bpd year-on-year decline in global oil demand for 2026, citing persistent geopolitical instability and trade restrictions in the Middle East. This forecast aligns with recent OPEC projections, marking a significant shift in long-term consumption trends since the pandemic-era slump.

OilPrice.com1 day agoSA, IR, IQ, AE, KWCredibility 47%View source

Score Breakdown

Mosaic Score10.0
Confidence0.9
Significance0.8
Source credibility0.5

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