IEA and OPEC Disagree on Oil Demand Forecasts Amid Ongoing Hormuz Strait Blockade

TL;DR AI-generated The IEA forecasts a decline in global oil demand by 1.6 million barrels per day in 2026, the first since the pandemic, while the OPEC still expects growth. The discrepancy between the two forecasts is approximately 2.2 million barrels per day, influenced by the Hormuz Strait blockade.