Energy · 56 views
IEA Predicts First Decrease in Global Oil Demand Since 2020
Global oil demand could decrease for the first time since 2020, following months of oil trade restrictions in the Middle East and ongoing geopolitical turmoil, the International Energy Agency (IEA) said on 10th July.
AI Summary
The International Energy Agency announced on July 10 that global oil demand is expected to fall for the first time since 2020. The decline follows months of oil trade restrictions in the Middle East and ongoing geopolitical turmoil. OPEC’s most recent 2026 global oil demand growth forecast also projects a similar downturn.
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