The International Energy Agency (IEA) has lowered its global oil demand forecast for 2026. According to the report, demand is expected to decrease by 1.6 million barrels per day.
The agency links this downward revision to persistent disruptions in the Strait of Hormuz and high fuel prices. Analysts anticipate a significant drop in demand during the second and third quarters of 2026, with a recovery projected for the final quarter.
Market participants are now focusing on upcoming updates from the IEA and OPEC to assess future supply and demand dynamics. Geopolitical instability in the Middle East remains a key factor influencing these market expectations.
Potential shifts in United States policy regarding Iranian crude oil are also under observation. Such regulatory changes could directly impact global supply levels and future price forecasts for the energy sector.
