IEA Revises Global Oil Demand and Supply Outlook Amid Iran Conflict 54 mins ago
The IEA has reported oil stock reductions of 3.8 million BPD over three months of the Iran conflict, with a possible drop of 4.6 million BPD projected. The agency revised its 2026 oil demand outlook to a decline of 1.1 million BPD, significantly steeper than the prior estimate of 420,000 BPD. Global supply is forecast to fall short of demand by 920,000 BPD in 2026, while a supply surplus of over 5 million BPD is anticipated by 2027.