RoydadNaft –   The International Energy Agency (IEA) has forecast that global oil demand will decline by 2.6 million barrels per day in 2026, attributing the drop to disruptions caused by the war involving Iran and a sharp increase in prices. The agency’s previous forecast projected a decline of 2.5 million barrels per day.

According to Roydad Naft, the IEA also expects global oil supply to fall by 5.8 million barrels per day in 2026, compared with its previous forecast of a 5.7 million-barrel-per-day decline.

According to the agency’s report, Russian oil production rose by 65,000 barrels per day in September compared with August, reaching 8.43 million barrels per day. However, production remained 870,000 barrels per day below the level recorded a year earlier.

The IEA also said that the recent easing of restrictions on Russian diesel exports is unlikely to significantly alter the global diesel market balance, given Russia’s limited refining capacity.

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