The Economic Times

Global oil demand to fall by 2.6 million barrels per day in 2026, diesel to account for 25 pc of decline: IEA

Global oil demand is anticipated to decrease significantly in 2026 due to the impact of the Iran war. Diesel is expected to account for 25 percent of this decline in demand. Oil supply is projected to rise temporarily before experiencing a drop in 2026, complicating market conditions. Additionally, refinery margins are under pressure from higher crude costs, affecting global output.