IEA downgrades outlook on global oil demand growth, projects decline by 2.7 mbd in 2026

IEA downgrades outlook on global oil demand growth, projects decline by 2.7 mbd in 2026 According to the International Energy Agency, oil consumption growth will move into positive territory starting around March 2027MOSCOW, November 13. /TASS/. Global oil demand will decline by 2.7 mln barrels per day (mbd) in 2026, International Energy Agency (IEA) reported. Thus, the agency has lowered its demand forecast by nearly 100,000 barrels per day (bpd) compared to its October expectations when a decline of 2.6 mbd was expected. At the same time, the IEA expects the fall of global oil demand to slow to 2.7 mbd in the fourth quarter of this year from 4.4 mbd in the second and third quarters, reflecting a partial normalization in the supply of petroleum products, according to the report. Oil consumption growth will move into positive territory starting around March 2027, which will drive an increase in demand of 2 mbd in 2027, the agency said. According to the IEA’s forecast, global oil demand will reach 102.285 mbd in 2026, compared to 104.969 mbd in 2025. For 2027, the agency expects oil demand at 104.297 mbd. Global refinery throughput falls in October to seasonal low of 81.3 mbd — IEAGlobal oil refining throughput fell by 1.3 mln barrels per day in October 2026Read moreBridge damage disrupts transport links across Dnieper in Kiev — lawmakerDamage to the bridges over the Dnieper has repeatedly paralyzed traffic in Kiev since late OctoberRead moreUS refrains from tougher measures against Iran on request from regional countries — TrumpUS President Donald Trump stressed that if not for that request, he could go furtherRead moreOver 1,000 foreign mercenaries wanted internationally — Russian investigators284 mercenaries had been convictedRead moreFormer Ukrainian prime minister calls Kiev’s demand to maintain 800,000-strong army absurdNikolay Azarov noted that Kiev needed financial guarantees from the EU because it was unable to maintain such large armed forces on its ownRead moreRussian forces push Ukrainian troops 30 km from state border in Sumy Region — expertAndrey Marochko specified that the Russian military continues to steadily expand the buffer zone in this areaRead moreRussia withdraws from European Boxing Championship in Croatia citing lack of national flagThe decision was also prompted by problems concerning the issuance of entry visas to members of the Russian delegationRead moreEuropean envoy to Ukraine talks must be acceptable to all parties — top Czech diplomatAccording to Petr Macinka, the person selected must command the respect of the West but also be viewed positively by the EastRead moreRussia does not expect lifting of sanctions against it in medium term — MFAWestern countries have recently begun to employ a sanctions policy with increasing frequency as they are losing their advantages, their "undisputed leadership," Alexander Trofimov saidRead morePress review: EU rejects security reform, stalls Ukraine peace as Armenia loses CSTO voteTop stories from the Russian press on Friday, November 13thRead moreRussian troops liberate two communities in Ukraine operation over past day — top brassUnits of Russia's Battlegroup Center liberated the settlement of Shilovka in the DPR and servicemen of the Battlegroup East liberated the settlement of Voskresenka in the Zaporozhye Region through decisive operationsRead more