India, Aug. 13 -- The International Energy Agency said in its latest Oil Market Report that global oil demand will decline by 1.6 million barrels per day in 2026.
This is 510000 b/d more than estimated in last month's Report, as the ongoing closure of the Strait of Hormuz and elevated fuel prices continue to weigh on oil consumption.
The report warns that global oil stockpiles are dwindling rapidly and global oil demand is projected to expand by 2.4 mb/d in 2027.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News....