IEA Warns Hormuz Closure Intensifies Global Economic Pressure and Oil Demand Destruction

The International Energy Agency (IEA) has warned that the closure of the Strait of Hormuz is exerting significant pressure on the global economy and intensifying the destruction of oil demand. This situation underscores the critical role of the strait in global energy markets.

12 Aug, 08:31 — 12 Aug, 08:31

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cnbcMostly Factual2d ago

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says

The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.

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First report: cnbc · 12 Aug, 08:31|Full coverage: 2 · 1h|Window: 1h

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cnbc12 Aug, 08:31First to report

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says

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naftemporiki12 Aug, 09:51Latest update

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IEA Warns Hormuz Closure Intensifies Global Economic Pressure and Oil Demand Destruction

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Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says

Coverage Timeline

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says

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