Energy agency expects global oil demand to fall in 2026

The International Energy Agency projects a significant drop in global oil demand by 2026, estimating a decline of about one million barrels a day, largely due to the ongoing tensions between the United States and Iran. This conflict is not only creating economic uncertainty but also raising risks around shipping and supply chains. If the situation escalates, it could further weaken oil demand, signaling a broader impact on global energy markets. This development matters as it underscores the vulnerability of global energy supplies to geopolitical strife.