IEA cuts oil demand forecast as Hormuz remains shut Business

IEA cuts oil demand forecast as Hormuz remains shut

  • August 12, 2026
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Paris: The International Energy Agency on Wednesday sharply reduced its forecast for global oil demand this year, as supplies remain crimped by the closure of the Strait of Hormuz and high prices deter buyers. Demand is expected to slump by 1.6 million barrels per day (mb/d), compared with its forecast slump of one million barrels […]

Rainfall forecast to cool heatwave conditions in al Hajar areas National

Rainfall forecast to cool heatwave conditions in al Hajar areas

Muscat: After several weeks of intense summer heat and prolonged dry conditions, parts of the Sultanate of Oman are expected to receive much-needed relief today, with forecasts indicating rainfall and thunderstorms over the al Hajar mountains and surrounding areas. According to weather updates, convective cloud activity is expected to develop over the mountainous areas, bringing […]