Middle East Energy Shock Wipes Out Global Oil Demand Growth
A significant energy and supply shock originating from the Middle East is severely impacting the global oil market, effectively wiping out projected oil demand growth. This crisis is expected to lead to a decline in global oil demand by 2026 and is already causing rising prices for gasoline, food, and imported goods, with the US also facing the risk of an oil shock.
The Story
Analyzing sources…
Source Diversity
Source Diversity
High (64/100)Sources
The US is at risk of an oil shock too
In a global market for crude, Asian buyers are vacuuming up supplies, raising prices for Europe and America
Read full article →Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock
Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil demand will decline this year for the first time since 2020. "The Iran war has thoroughly upended the global outlook for oil consumption," the IEA wrote in its Oil Market R...
By Tyler Durden
Read full article →Global Oil Demand to Decline in 2026 as Middle East Supply Shock Reshapes Market
Global oil demand will decline in 2026 for the first time since 2020, as shortages and higher prices linked to war in the Middle East reshape energy markets, the International Energy Agency (IEA) said. The post Global Oil Demand to Decline in 2026 as Middle East Supply Shock Reshapes Market appeared first on Morocco World News.
By Firdaous Naim
Read full article →
