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IEA sharply downgrades global oil demand forecast for 2026

Economy

11 Sept 2026 · 20:02

IEA Sharply Downgrades Global Oil Demand Forecast for 2026

The International Energy Agency (IEA) has sharply downgraded its global oil demand forecast for 2026, citing the prolonged impasse in trade negotiations as a key factor.

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The agency now expects demand to grow at a slower pace than previously projected, reflecting weaker economic activity and reduced industrial consumption. The revised outlook underscores the impact of ongoing trade tensions on energy markets, with the IEA warning that further deterioration could lead to additional downward adjustments.

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