Global Oil Demand Faces First Annual Decline Since 2020
Global oil demand is projected to decline by 1 million barrels per day (b/d) in 2026, marking the first annual contraction since the 2020 pandemic, according to the International Energy Agency (IEA). This downturn is primarily driven by the closure of the Strait of Hormuz, a critical shipping artery currently paralyzed by the conflict between … Read more