Global oil demand set to fall in 2026, first decline since COVID pandemic

The International Energy Agency projects oil demand will shrink next year amid geopolitical disruption from the Iran conflict, marking the first contraction since the pandemic and raising questions about the trajectory of global energy cons

First covered Jul 10, 2026 · 1:38 PM PT · 1 article

Global oil demand set to fall in 2026, first decline since COVID pandemic — Image via insideclimatenews.org

Coverage

4h Inside Climate News Global Oil Demand Falls for the First Time Since COVID — Global oil demand, disrupted by the Iran war, is poised to shrink in 2026, the first time that’s happened since the COVID-19 pandemic, the International Energy…

More coverage from around the web

cnbc.com From supply shock to oil glut: IEA flags scale of demand destruction caused by Iran war

oilprice.com IEA Revises 2026 Forecast: Oil Deficit Widens as Iran War Cuts Production | OilPrice.com

iea.blob.core.windows.net Oil Market Report

energynow.com Iran War Upends IEA's Oil Market Outlook as Global Supply and Demand to Contract in 2026 - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

qz.com Global oil demand is set to fall for the first time since 2020, IEA says

Discussion

Bluesky: @dangearino.bsky.social Dan Gearino · 1h ago · 3 ♥ Global oil demand to fall this year for the first time since COVID, according to IEA. “I think the events of the past few months in Iran will have an effect and are likely to hasten the secular decrease in oil demand,” said Samantha Gross of Brookings.

Appeared in: 2026-07-10 (#2) · 2026-07-11 (#3)

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