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Global oil demand set for first annual fall since 2020: IEA

Posted on July 10, 2026
By Financial Express
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1 min read

Global oil demand set for first annual fall since 2020: IEA

The IEA reports global oil demand will shrink in 2026 for the first time since 2020 due to Gulf war disruptions, with recovery dependent on reopening the Strait of Hormuz and resuming exports.