The International Energy Agency (IEA) has significantly revised its forecasts for global oil supply and demand growth. According to Jin10, the agency cited disruptions in oil supply due to ongoing conflicts in the Middle East, which are exerting pressure on the global economy. The IEA now anticipates that global oil demand will decrease by 80,000 barrels per day in 2026, a stark contrast to last month's forecast of a 640,000 barrels per day increase. Similarly, the agency projects that global oil supply will decline by 1.5 million barrels per day in 2026, compared to the previous expectation of a 1.1 million barrels per day increase.