World Oil

The International Energy Agency (IEA) has cut its 2026 forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as disruptions, higher fuel prices and tighter product markets weigh on demand.

IEA cuts 2026 oil demand outlook as Hormuz reopening nears The IEA has cut its 2026 oil demand forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as Middle East disruptions, higher fuel prices and tighter product markets weigh on demand.

ADNOC Group has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity.

ADNOC taps industry veteran to lead trading arm expansion ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity.