Iran war upends IEA’s global oil market outlook
LONDON: The International Energy Agency sharply cut its forecasts for global oil supply and demand growth, saying both are now expected to fall from 2025 levels as war in the Middle East disrupts oil flows and weighs on the global economy.
The IEA now sees global oil demand falling by 80,000 barrels per day in 2026, compared with a projected year-on-year rise of 640,000 bpd in its previous monthly report.
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