Source: International Business Times
AFP The International Energy Agency (IEA) has warned that global oil demand is now expected to decline in 2026, marking a sharp reversal from earlier projections, as disruption in the Strait of Hormuz continues to shake energy markets. According to a report by CNBC, the agency revised its outlook amid escalating geopolitical tensions and supply disruptions in one of the world's most critical oil transit routes. Handling roughly a fifth of global seaborne oil flows, it has become a focal point of market instability following recent conflict-related disruptions in the region.
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