IEA downgrades outlook on global oil demand growth, projects decline by 2.7 mbd in 2026
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The International Energy Agency has lowered its projections for global oil demand growth. The agency expects a decline of 2.7 million barrels per day by 2026. Consumption growth is projected to return to positive territory around March 2027.
According to the International Energy Agency, oil consumption growth will move into positive territory starting around March 2027