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Global Oil Demand To Drop For The First Time In More Than Five Years, IEA Says

Posted on July 10, 2026
By International Business Times
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1 min read

Global Oil Demand To Drop For The First Time In More Than Five Years, IEA Says

Global oil demand is set to drop for the first time since 2020, according to the International Energy Agency as the war in Iran saw traffic through the Strait of Hormuz plummet.