oil consumption decline - The Geo Chronicle

Cargo ships and oil tankers on the Bosporus strait, capturing global trade and maritime logistics at sunset.

Politics

Global Oil Demand Outlook 2026: IEA Forecasts Significant Decline Amid High Fuel Prices and Strait of Hormuz Pressures

News Desk Aug 12, 2026 0

The IEA projects a 1.6 million barrels per day reduction in global oil demand by 2026. High fuel costs and…

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