Oil prices fall as IEA cuts global demand forecast for 2026
Crude prices slipped today after the IEA lowered its global demand forecast for 2026. Investors also weighed a significant build in U.S. crude oil inventories.
Insights:
Oil prices slipped on Thursday after the International Energy Agency lowered its global oil demand forecast for 2026, a move that immediately reduced market support and reversed earlier price gains. In its latest monthly report published today, February 12, 2026, the agency signaled slower demand growth and projected a sizeable supply surplus for the coming year. This shift in the outlook for the global oil market has weighed heavily on investor sentiment.
The downward pressure was further amplified by data from the Energy Information Administration , which reported a significantly larger-than-expected build in crude inventories in the United States 
US. U.S. crude stocks rose by 8.5 million barrels, contrasting sharply with the 793,000-barrel increase that analysts had anticipated. This inventory surge, which occurred alongside operations at U.S. refineries , contributed to the decline in both the Brent crude benchmark and the West Texas Intermediate benchmark .
US. U.S. crude stocks rose by 8.5 million barrels, contrasting sharply with the 793,000-barrel increase that analysts had anticipated. This inventory surge, which occurred alongside operations at U.S. refineries , contributed to the decline in both the Brent crude benchmark and the West Texas Intermediate benchmark .
