IEA sees oil demand recovery

The International Energy Agency (IEA) expects global oil demand to recover and return to growth by late 2026, following a temporary contraction caused by Middle East conflicts.

The IEA warns that a lasting peace agreement and swift de-escalation of renewed U.S.-Iran hostilities are absolute requirements for sustained market normalization. If these transit volumes continue to improve, the agency anticipates global oil supply to expand significantly, creating a substantial supply surplus in 2027.