The IEA now expects oil demand to fall in 2026. Does that change how you trade oil or CAD and NOK?

The International Energy Agency's September Oil Market Report, published on 11 September, forecasts world oil demand to decline by 2.5 million barrels a day in 2026 and recover by 2.6 million barrels a day in 2027. It estimates that global observed inventories fell by a further 95 million barrels in August (summary of the report).

Monthly agency reports rarely move prices on their own, but they shape the story traders tell about supply and demand.

Questions for anyone who follows energy:

1. Do you read the IEA, OPEC or US EIA monthly reports, and which one do you trust most?
2. When demand forecasts fall but inventories are also falling, which do you give more weight?
3. Has the oil price changed how you trade USD/CAD or the Norwegian krone?

Background: oil prices and the Canadian dollar and commodity currencies.