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

Source: International Business Times

Global oil demand is set to decline for the first time since 2020, according to the International Energy Agency. 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. Concretely, figures are expected to decline by 1 million barrels a day this year.