According to CoinMeta, the International Energy Agency (IEA) has lowered its forecast for global oil demand in 2026, expecting it to decline by 1.56 million barrels per day to 103.29 million barrels per day, which is about 510,000 barrels per day less than its previous prediction. The IEA pointed out that the continued obstruction of exports through the Strait of Hormuz and high fuel prices are the main reasons for this decline. It is expected that global oil demand will fall by 4.9 million barrels per day year-on-year in the second quarter, with the decline narrowing to 2.8 million barrels per day in the current quarter, and growth is anticipated to resume in the fourth quarter, with an increase of about 580,000 barrels per day. Assuming that tensions between the United States and Iran will ease, the IEA expects oil supply to gradually recover in the coming months, and global oil demand in 2027 is expected to grow by 2.4 million barrels per day to reach 105.7 million barrels per day.