Iran War Cuts IEA Oil Market Outlook

The International Energy Agency cut its global oil outlook.

Due to Middle East war impacts.

It expects global demand to fall.

By 80,000 barrels per day in 2026.

After previously forecasting growth.

It also projected supply declines.

By about 1.5 million barrels per day.

Due to disruptions.

From the closure of the Strait of Hormuz.

And attacks on energy infrastructure.

Demand drops were highest.

In the Middle East and Asia.