Oil Struggles for Direction as IEA Flags Greater Volatility Ahead, OPEC Cuts Demand Forecast The oil market's recent behavior has been marked by its characteristic lack of subtlety.
As the world teeters on the brink of another energy crisis, OPEC's revised demand forecast for 2026 has sent shockwaves through trading floors worldwide.
Ongoing geopolitical tensions, particularly the Iran war, continue to cast a dark shadow over global oil supplies. The Strait of Hormuz serves as a chokepoint for approximately 14 million barrels per day.