The IEA Forecasts Global Oil Demand To Fall By 2.5m Barrels A day By Q4

The International Energy Agency (IEA) fresh report has predicted a drop in global oil demand    as  the Iran war manifests itself through restricted product availability, soaring fuel prices and a deteriorating economic outlook
According to the IEA, world oil demand is forecast to fall by 2.5 million barrels a day (mb/d) in fourth quarter of 2026 and 2.6 mb/d on average in 2026. 
It said that diesel will register 25 per cent of the drop. A partial recovery, of 2 mb/d, will leave 2027 global oil use 620 kb/d, or 0.6 per cent below 2025 levels.
In its oil market outlook the agency noted that global   oil supply increased by 2.5 mb/d m-o-m to 102.3 mb/d in September, driven by Gulf pr...