IEA cuts global oil demand forecast, sees 1.1 mln bpd decline in 2026
The agency thus revised its demand forecast downward by 735,000 bpd compared with its May outlook, when it projected a decline of 418,000 bpd
IEA cuts global oil demand forecast, sees 1.1 mln bpd decline in 2026 The agency revised its oil demand forecast downward. This revision is a reduction of 735,000 barrels per day compared to the May outlook. The May outlook had projected a decline of 418,000 barrels per day.
- Agency revised demand forecast downward.
- Forecast decreased by 735,000 bpd.
- This is a change from the May outlook projection of a 418,000 bpd decline.
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