{"id":10748,"date":"2026-04-14T08:44:00","date_gmt":"2026-04-14T04:44:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/crude-demand-biggest-drop-iae\/"},"modified":"2026-04-14T13:58:20","modified_gmt":"2026-04-14T09:58:20","slug":"crude-demand-biggest-drop-iae","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/crude-demand-biggest-drop-iae\/","title":{"rendered":"Crude Oil Demand Forecast: Biggest Quarterly Drop Since Covid and What It Means for Investors and Businesses"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p>The International Energy Agency (IEA) has issued a warning that the demand for crude oil is expected to experience its steepest decline in the second quarter since the global economic downturn caused by the Covid-19 pandemic in 2020. This outlook was presented in the agency\u2019s monthly report released Tuesday.<\/p>\n<p>The IEA attributes this anticipated drop in demand to sharply rising oil prices triggered by the ongoing conflict in the Middle East. These elevated prices are expected to compel numerous countries and industries to reduce their oil consumption. The agency emphasized that <strong>\u201cdemand destruction will spread as scarcity and higher prices persist.\u201d<\/strong><\/p>\n<p>Fatih Birol, the IEA\u2019s Executive Director, highlighted that April could prove more challenging for both energy markets and the global economy compared to March due to the war. He noted that while shipments of oil in March were mostly from cargoes loaded prior to the crisis, <strong>\u201cduring April, nothing has been loaded.\u201d<\/strong><\/p>\n<p>Birol further warned, <strong>\u201cThe longer the disruption is, the more severe the problem becomes,\u201d<\/strong> speaking to reporters following a meeting at the International Monetary Fund.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitl8gaka{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitl8gaka:hover{border-color:#dc262688}\r\n.hitl8gakg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 0%,rgba(220,38,38,0.35),transparent 65%);pointer-events:none;z-index:0}\r\n.hitl8gakg2{position:absolute;bottom:0;left:0;right:0;height:45%;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The IEA&#8217;s warning of a sharp slump in crude oil demand amid soaring prices and Middle East conflict <strong>signals heightened market volatility and potential economic slowdown globally<\/strong>. For businesses in Oman, this creates both a <strong>risk of reduced export revenues and an opportunity to innovate in energy efficiency and diversification<\/strong>. Smart investors and entrepreneurs should <strong>prioritize flexibility and explore sustainable energy solutions to mitigate demand shocks and navigate the evolving energy landscape.<\/strong><\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Demand for crude oil is expected to see the biggest slump in Q2 since the 2020 Covid pandemic, the IEA warned. Surging prices from the Middle East war will force countries and industries to reduce oil use, with demand destruction spreading as scarcity and high prices persist.<\/p>\n","protected":false},"author":9,"featured_media":10749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[4023,4154,328],"class_list":["post-10748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-energy-crisis","tag-middle-east-war","tag-oil-prices"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/04\/3352131.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=10748"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10748\/revisions"}],"predecessor-version":[{"id":10750,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10748\/revisions\/10750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/10749"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=10748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=10748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=10748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}