Global oil demand to plunge amid disruptions caused by war on Iran: IEA

Author: aljazeera.comPublished on: April 14, 2026Country: Iran

PoliticsBusiness & Economy

Global oil demand to plunge amid disruptions caused by war on Iran: IEA

The International Energy Agency (IEA) forecasts a decline in global oil demand by 80,000 barrels per day in 2026 due to disruptions from the US-Israel war on Iran. Attacks on energy infrastructure and Iran's closure of the Strait of Hormuz have led to the largest oil supply disruption in history, with 10.1 million barrels lost in March. The IEA also noted that oil consumption has particularly dropped in the Middle East and Asia Pacific regions.

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