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

Published by CNBC By Jenni Reid · 12 August 2026 at 11:04
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Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says - CNBC
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What the report 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.

Read the full report at CNBC →

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