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IEA: Global Oil Demand to Drop
The International Energy Agency has announced that it has once again lowered its global oil demand forecasts for 2026 due to the conflict in the Middle East and rising fuel prices, especially diesel. The demand is expected to decline by 2.5 million barrels per day from previous estimates, bringing global consumption to approximately 102.44 million barrels per day, compared to the 103.29 million barrels projected last month. This decline reflects the impact of conflicts and tensions on the global oil markets.
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