IEA warns 2026 oil demand to fall as Hormuz disruption tightens supply
TL;DR
The IEA trimmed its 2026 oil-demand forecast to a 1.6 million barrels-per-day drop (up from about 1 million previously), attributing the revision to continued disruptions from the Strait of Hormuz and renewed tensions that threaten global supply. Demand is expected to dip this year but recover later in 2026, even as inventories remain tight and refining capacity constraints keep prices volatile; the IMF has also cut growth forecasts, underscoring a slower global backdrop.
- Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says CNBC
- The Trump administration claims oil is flowing normally again. There’s just one problem CNN
- Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – business live The Guardian
- Hormuz Standoff Derails Oil Supply Recovery and Deepens Demand Slump, IEA Says WSJ
- Oil Supply Crunch Worsens Despite War’s Demand Hit, IEA Says Bloomberg.com
Want the full story? Read the original reporting
Read on CNBC