IEA Raises 2026 Global Oil Demand Cut to 1.1M Barrels/Day, Up 68% From Prior Forecast

According to the International Energy Agency's latest monthly report, the organization has raised its 2026 global crude oil demand cut forecast to 1.1 million barrels per day, compared to its previous projection of 420,000 barrels per day, reflecting a 680,000 barrel-per-day increase in expected demand reduction due to the Iran conflict.
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