This follows from the IEA report. Instead of growth, a daily decline in global demand is expected. The agency has worsened the demand forecast by 334 thousand b/s compared to the April forecast (a decrease of 84 thousand b/s was expected instead of the demand growth forecasted earlier). The forecast was reduced by 1.3 mln b/s compared to the estimate given before the Middle East conflict.
The IEA expects the maximum decline in global oil consumption in the second quarter of 2026 – 2.45 mln b/s. Previously, the agency forecasted a decline of 1.5 mln bpd over these three months.
The IEA expects that in 2026 the world demand for oil will amount to 104 mln bpd against 104.342 mln bpd in the past.
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