IEA Trims 2025–26 Global Oil Demand Growth Outlook

The International Energy Agency lowered its projections for global oil demand growth in its latest monthly report issued on 13 August. For 2025, the agency now expects demand to expand by 680,000 barrels a day, down from the 700,000-barrel increase it forecast earlier. The IEA also cut its 2026 outlook, projecting demand growth of 700,000 barrels a day, compared with a previous estimate of 720,000 barrels. The revisions reflect the agency’s assessment of slowing consumption gains in key markets over the medium term.