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Gas Demand Set for First Drop Since 2022 on Iran War, IEA Says

Gas Demand Set for First Drop Since 2022 on Iran War, IEA Says
Bloomberg Markets Tuesday 07 July 2026, 12:07 UTC By Elena Mazneva 1 min read
Key Points

Commodities Gas Demand Set for First Drop Since 2022 on Iran War , IEA Says Global gas demand is poised for the first annual drop since the 2022 energy crisis because of higher prices caused by the Iran war, according to the International Energy Agency. That demand destruction has been evident in Asia in the first half, with consumers using less or switching to alternative fuels, while Europe also saw stronger renewables output, the IEA said in a quarterly report published Tuesday.

Commodities Gas Demand Set for First Drop Since 2022 on Iran War, IEA Says Global gas demand is poised for the first annual drop since the 2022 energy crisis because of higher prices caused by the Iran war, according to the International Energy Agency. That demand destruction has been evident in Asia in the first half, with consumers using less or switching to alternative fuels, while Europe also saw stronger renewables output, the IEA said in a quarterly report published Tuesday. Together with lower gas usage in the Middle East, that should push global demand down 0.5% this year, even as consumption rises in some regions.
Iran War (EVENT) IEA (ORG) the Iran war (EVENT) the International Energy Agency (ORG) Asia (LOCATION) Europe (LOCATION) the Middle East (LOCATION)
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