Iran war may crush oil demand today, but send it soaring long term
- Posted on April 22, 2026
- By Business News Today
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- 1 min read
Iran war may crush oil demand today, but send it soaring long term
The Iran war has caused a significant drop in global oil demand, with consumption plummeting due to supply disruptions and record-high fuel prices. While this short-term destruction accelerates the shift to EVs and biofuels, the conflict's longer-term impact may paradoxically boost oil demand through increased energy security investments and a less efficient global energy system.
