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'Global Oil Demand Set for Sharpest Quarterly Drop Since COVID': International Energy Agency

Summary by The Statesman
The initial hit has been seen in the Middle East and Asia-Pacific regions, with reduced consumption of fuels such as naphtha, LPG, and jet fuel.

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Lean Right

IEA: Worst Oil Supply Disruptions Due to Middle East Crisis; Crude Oil Demand Expected to Decline This Year. The International Energy Agency (IEA) assessed that the worst supply disruptions in history occurred last month due to the Middle East war that broke out on February 28 and the blockade of the Strait of Hormuz. [Regarding] the April oil market report released by the IEA on the 14th (local time)

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Dawn broke the news in Pakistan on Tuesday, April 14, 2026.
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