EconomyIEA cuts 2026 oil demand forecast amid Hormuz disruption

The International Energy Agency lowered its 2026 global oil demand forecast, citing the continued closure of the Strait of Hormuz and high fuel prices. It now expects demand to fall by 1.6 million barrels per day, while oil supply is projected to drop by 4.3 million barrels per day as hostilities and maritime disruptions hinder recovery.

oil marketStrait of HormuzIEAfuel prices

CCGTN★★★★☆2026-08-12 08:01Original