Business & Economy

World oil demand set for first annual decline since 2020, IEA says

The International Energy Agency (IEA) has forecast a decline in global oil demand for the first time since 2020.

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The International Energy Agency (IEA) has forecast a decline in global oil demand for the first time since 2020. This development is attributed to various factors, including the ongoing conflict in Iran. The IEA's prediction marks a significant shift in the global energy landscape. The agency's assessment is based on current trends and market conditions. The implications of this decline are yet to be fully understood, but it may have far-reaching consequences for the oil industry and the global economy.

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