Commentary: Peak oil demand has arrived (opens original article in a new tab)

The US-Israeli and Iran war caused a major oil supply disruption, accelerating peak oil demand as countries adapt by reducing oil dependence and implementing energy-saving measures.

• Global oil demand in 2026 is projected to be 1.3 million barrels per day lower than pre-war expectations.
• China reduced oil imports by drawing down stockpiles and implementing conservation measures, affecting global oil prices.
• Asia and other regions adopted energy-saving policies to manage supply disruptions and reduce oil dependence.