United Statesfield

Bloomberg

Iran War Wipes Out Global Oil Demand Growth This Year

Global oil demand will decline this year for the first time since the 2020 pandemic as a price surge caused by the Middle East conflict wipes out growth, the International Energy Agency said. "The Iran war has thoroughly upended the global outlook for oil consumption," the adviser to major economies said in its monthly report. Surging prices for physical crude and products such as jet fuel, diesel and gasoline are squeezing consumers and taking a toll on demand. Bloomberg's EMEA News Director Will Kennedy joins Stephen Carroll and Caroline Hepker to discuss.

Read more

Connect with us

Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relate to your unique circumstances.

Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of or reliance on the information provided directly or indirectly, by use of this platform.