Oil Prices Drop 3% After IEA Cuts Demand Growth Outlook

Oil prices dropped Thursday after the International Energy Agency cut its demand growth outlook, a revision that landed in a market already uneasy about how quickly supply is said to be rising. Brent crude traded near $67 a barrel in the afternoon, down roughly 3% on the session. U.S. WTI slipped into the $62s. Selling accelerated after the IEA trimmed its 2026 global demand growth forecast to 850,000 barrels per day. A month ago, it was expecting 930,000. The number itself is not as dramatic as the context. The agency still sees global supply…