Moscow, June 17 (RIA Novosti/GNA) – The International Energy Agency (IEA) has significantly downgraded its forecast for global oil demand in 2026 and now expects the demand to decline by 1.12 million barrels per day to 103.292 million barrels per day, the organization said in its fresh report on Wednesday.
According to the updated data, demand is expected to decrease by 1.118 million barrels per day this year, which is 700,000 barrels per day more than it was forecast a month ago — 418,000 barrels per day.
At the same time, global oil demand in 2026 is expected to reach 103.292 million barrels per day, compared to 104.027 million barrels per day in the previous report. Thus, the forecast has been lowered by about 735,000 barrels.
GNA/RIA Novosti