Oil Prices Drop 3% After IEA Cuts Demand Growth Outlook

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Oil prices dropped 3% after the International Energy Agency (IEA) cut its demand growth outlook for 2026, citing a revision from 930,000 to 850,000 barrels per day.

Market Impact

Market impact analysis based on bearish sentiment with 85% confidence.

Sentiment
Bearish
AI Confidence
85%
Time Horizon
Short Term

Article Context

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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…

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Original article published by OilPrice.com on February 12, 2026.
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