Oil Demand
Coverage of Oil Demand in the Nexus archive.
- Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says
The IEA reports that oil demand is expected to fall by 1.6 million barrels per day in 2026. This predicted decline stems from high fuel prices and disruptions occurring in the Strait of Hormuz, factors which are currently squeezing the global economy.
- Global Oil Demand Falls for the First Time Since COVID
Global oil demand is projected to decline in 2026 for the first time since the COVID-19 pandemic, according to the International Energy Agency. Analysts are uncertain whether the Iran war might accelerate a long-term decline in demand.
- Energy agency expects global oil demand to fall in 2026
The International Energy Agency forecasts global oil demand to fall by one million barrels a day in 2026 due to the United States-Iran conflict, which is creating economic uncertainty. Oil production increased in June but remains below pre-war levels, and the conflict could disrupt expectations of a 2027 oil surplus.
- World oil demand set for first annual decline since 2020, IEA says
The International Energy Agency (IEA) reports that world oil demand is set for its first annual decline since 2020. The decline marks a significant shift in global energy consumption patterns.
- Iran war supercharges pivot to renewable energy
The Iran war and rising oil and gas prices have accelerated global adoption of renewable energy and electric vehicles. Experts suggest this year might mark the peak of oil demand.
- Oil drifts lower as Strait of Hormuz reopens, focus shifts to demand outlook
Oil prices declined as the Strait of Hormuz reopened, reducing immediate supply concerns. Traders are now focusing on oil demand and OPEC's market outlook.
- US-Iran Deal Poses Inflation Risk If Chinese Oil Demand Recovers
A potential US-Iran deal could lead to inflation risks if Chinese oil demand recovers. The article highlights the economic implications of increased oil demand on global markets.
- Top Oil Traders Warn Worst of Demand Hit From War Is Yet to Come
Top oil traders warn that the worst impact of the war on demand is yet to come. They anticipate further declines in oil demand as the conflict continues.
- "Oil Demand Is About To Spike... We're Looking At A Volatile Summer" Says Schork
The article predicts a significant increase in oil demand leading to a volatile summer, as noted by Schork. This spike in demand is expected to create market instability.
- Global oil inventories to fall below 100 days of demand on Hormuz blockade
Global oil inventories are projected to fall below 100 days of demand due to a blockade in the Hormuz Strait, signaling a critical reduction in energy reserves. The Hormuz Strait, a key oil shipping route, is central to the disruption.