IEA Cuts 2026 Oil Demand Forecast as Hormuz Stays Shut
By Oluwakemi Kindness The International Energy Agency has sharply cut its forecast for global oil demand this year, citing the continued closure of the Strait of Hormuz and high fuel prices. The IEA now expects oil demand to fall by 1.6 million barrels per day in 2026. That is significantly higher than its previous forecast […]