S&P Global cuts 2026 oil demand forecast by 700,000 bpd due to Iran war
Published on April 23, 2026.
S&P Global Energy has reduced its global oil demand forecast for 2026 by ‘700,000 barrels per day’ due to the U.S.-Iran war, which disrupted energy supplies from the Middle East and will impact demand in the second quarter. The company predicts that around 178 refineries, accounting for around 40% of the world's refining capacity, will be affected by this disruption.
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