IEA reduces 2026 oil demand forecast
The International Energy Agency has lowered its global oil demand forecast for 2026 due to developments in the Middle East and rising fuel prices, especially diesel. The agency now expects a decrease of 2.5 million barrels per day on an annual basis, compared to its previous estimate of a decline of 1.6 million barrels per day. The global oil consumption is projected to reach approximately 102.44 million barrels per day in 2026, down from the earlier forecast of 103.29 million barrels.
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