Keypoints Main Story In its April 2026 Oil Market Report, the IEA paints a grim picture of a global energy system pushed to its breaking point by the ongoing conflict in the Middle East. The agency has slashed its demand outlook, now forecasting a contraction of 80,000 b/d for the year. A projected 1.5 million … Continue reading IEA: Middle East war triggers sharpest oil demand contraction since COVID-19