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Event Brief

IEA forecasts first annual oil demand drop since

The IEA says global oil demand will fall by 1 million bpd in 2026, the first annual contraction since 2020.
WHO: International Energy Agency (IEA)
WHAT: IEA forecasts global oil demand will contract in 2026 by 1 million barrels per day
WHEN: Jul 10, 2026 at 7:58 AM ET
WHERE: Location not specified
WHY: Oil demand is set to shrink as the US-Iran war throttles Gulf exports, while supply increased in June.

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