World oil demand set for first annual decline since 2020, IEA says
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16 Articles
The recent escalation of tensions between the United States and Iran could threaten the expected oil market surplus in 2027. Global supplies rose in June thanks to the reopening of the Strait of Hormuz, but were still below pre-conflict levels, the International Energy Agency (IEA) said in its monthly oil market report on Friday.
The IEA, which in mid-June forecast a drop in demand of 1.1 million barrels per day in 2026, now projects a decrease of 1 million barrels. The organization notes that global supply has "rebounded" thanks to the partial resumption of transit through the Strait of Hormuz following the ceasefire signed on June 17, but production remains well below pre-war levels in the Middle East. Since then, traffic in the Strait of Hormuz has slowed significan…
The International Energy Agency anticipates a decrease in world demand that is less than initially expected, while stressing the continuing tensions in the markets.
IEA tror fortsatt at global oljeetterspørsel vil trape i år. En normalisering i Hormuzstredet avhenger av en varig fredsavtale, mener byrået.
(Paris=Yonhap News) Correspondent Song Jin-won = The International Energy Agency (IEA) [stated that] crude oil transport through the Strait of Hormuz [will...] following the signing of a Memorandum of Understanding (MOU) between the U.S. and Iran to end the war
Global Market: IEA sees global oil demand recovering as Strait of Hormuz flows resume
Global oil demand is showing signs of recovery as shipments through the Strait of Hormuz resume and crude prices ease, the International Energy Agency (IEA) said. While the agency raised its demand outlook slightly, it cautioned that consumption and production remain well below pre-conflict levels amid lingering Middle East tensions.
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