IEA sees 2026 oil demand contracting after a 10.1 million bpd supply shock
The IEA now sees global oil demand shrinking in 2026 after a 10.1 million barrel-a-day March supply disruption and steep inventory draws linked to the Hormuz crisis.
From the sources (13 posts)
@firstsquawkIEA SEES WORLD OIL SUPPLY FALLING BY 1.5 MLN BPD IN 2026, VS PREVIOUS FORECAST FOR 1.1 MLN BPD RISE
@firstsquawkIEA SEES GLOBAL OIL SUPPLY EXCEEDING DEMAND BY 410,000 BPD IN 2026, VS 2.46 MLN BPD IN PREVIOUS REPORT
@firstsquawkIEA SEES WORLD OIL DEMAND FALLING BY 80,000 BPD IN 2026 DUE TO IRAN WAR IN MONTHLY REPORT, VS PREVIOUS FORECAST FOR 640,000 BPD RISE
@staunovoGlobal observed oil inventories fell by 85 mb in March, with stocks outside of the Middle East Gulf drawn down by a significant 205 mb (-6.6 mb/d) as flows through the Strait of Hormuz were choked off. At the same time, with limited outlets
@joumannatvNEW: IEA sees oil demand in 2026 FALLING for the first time since 2020 "energy markets and economies around the world need to brace for significant disruptions in the months to come" - prior forecast for global demand growth of 730,000 b
@wsjmarketsGlobal Oil Demand Heads for Contraction As Iran War Chokes Flows, IEA Says
@hfi_researchWe are saved. IEA expects production shut-in to return to normal by August. IEA is still expecting their old surplus in Q3 and Q4 2026 balances! Thank god, we have another month to go before IEA changes its mind.
@javierblasBREAKING: @IEA says that global oil demand will post in 2026 its first year-on-year contraction since 2020 during Covid-19 pandemic. The agency forecasts global oil demand falling ~100,000 b/d in 2026 (vs its expectation of +700,000 b/d g
@staunovoThe overall loss in oil exports exceeds 13 mb/d, with associated production curtailment and damage to energy infrastructure in the region resulting in cumulative supply losses of more than 360 mb in March and 440 mb projected for April. IEA
@staunovoMeanwhile the 2024 and 2025 demand baselines were revised up by 0.2mbpd #oott
@cointelegraph🚨 LATEST: Global oil supply plunged by 10.1M barrels/day to 97M in March, one of the sharpest monthly disruptions on record, per International Energy Agency.
@annmarieIEA: “The Iran war has thoroughly upended the global outlook for oil consumption... Demand destruction will spread as scarcity and higher prices persist.”
@thetranscript_IEA: Global oil demand to contract in 2026 for the first time since the COVID-19 pandemic "Oil demand is expected to contract by 80 kb/d this year, as the Iran war upends our global outlook...demand destruction will spread as scarcity and