EMEA > Africa > World oil demand falling drastically amid conflict in Middle East, says IEA

World oil demand falling drastically amid conflict in Middle East, says IEA

Published 17:01 on May 14, 2026 / Last updated at 17:01 on May 14, 2026 / / Americas (LATAM & Caribbean, US & Canada), Asia Pacific (Asia, Pacific), EMEA (Africa, Europe, Middle East), Net Zero Transition (Transport & Heating Fuels)

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World oil demand is falling sharply due to the effective closure of the Strait of Hormuz, which is depleting global stocks at a record pace, the International Energy Agency (IEA) said Thursday.
World oil demand is falling sharply due to the effective closure of the Strait of Hormuz, which is depleting global stocks at a record pace, the International Energy Agency (IEA) said Thursday.


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