IEA cuts oil demand forecast on war impact
Edited By WION Video Desk
Published: Aug 13, 2026, 11:31 IST | Updated: Aug 13, 2026, 11:31 IST
The International Energy Agency is warning of a sharp drop in global oil demand this year, as the closure of the Strait of Hormuz disrupts supplies and high fuel prices force consumers to cut back. The IEA now expects global oil demand to fall by 1.6 million barrels a day, significantly worse than its previous forecast.
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