Beijing, China - April 14, 2026 (CCTV Video News Agency - No access Chinese mainland)
1. Screenshot showing highlights in International Energy Agency (IEA)'s previous report

FILE: Paris, France - Oct 13, 2021 (CCTV - No access Chinese mainland)
2. Building of International Energy Agency (IEA)

FILE: Paris, France - July 3, 2017 (CCTV - No access Chinese mainland)
3. Various of logo of IEA

FILE: Strait of Hormuz - 2011 (CCTV - No access Chinese mainland/Al-Arabiya/Persian language TV Stations outside Iran. Strictly No Access BBC Persian/VOA Persian/Manoto TV/Iran International/Radio Farda)
4. Aerial shot of island in Strait of Hormuz
5. Boats sailing through strait

FILE: Kharg Island, Iran - 2016-2018 (CGTN - No access Chinese mainland/Al-Arabiya/Persian language TV Stations outside Iran. Strictly No Access BBC Persian/VOA Persian/Manoto TV/Iran International/Radio Farda)
6. Various of Kharg Island, oil facilities

FILE: Alberta Province, Canada - January 2025 (CGTN - No access Chinese mainland)
7. Various of land drilling rig in operation, mountains

FILE: Pleasanton, Texas, USA - 2016 (CCTV - No access Chinese mainland
8. Various of land drilling rigs in operation

FILE: Huntington Beach, California, USA - Oct 20, 2021 (CCTV - No access Chinese mainland)
9. Various of offshore oil rig

Los Angeles, California, USA - Recent (CGTN - No access Chinese mainland)
10. Various of gas station, price board, people refueling cars; traffic

The International Energy Agency (IEA) said on Tuesday that global oil demand is set to suffer its steepest quarterly decline since the COVID-19 pandemic, as the war in Iran disrupts supply and reshapes the outlook for energy markets.

Oil demand is expected to contract by 80,000 barrels per day this year, a figure that is 730,000 barrels per day lower than last month's forecast, according to the IEA’s latest monthly report.

The agency projected a 1.5 million barrels per day decline in the second quarter of 2026, which would mark the sharpest drop since the pandemic slashed fuel consumption.

The report said demand destruction first appeared in the Middle East and Asia-Pacific, and is likely to spread further as supply shortages persist and prices rise.

According to the Paris-based organization, the war in Iran has triggered one of the most severe oil supply shocks in history, with global output down by about 10 million barrels last month.

At the same time, higher energy prices have boosted Russia's oil export revenues, which doubled between February and March, it said.