The conflict in Iran is reportedly having a significant impact on oil demand, with some outlets suggesting it may be falling and potentially not recovering. However, there is uncertainty about the nature and duration of this impact, with some sources describing it as "demand destruction" and others as "rationing". The International Energy Agency has weighed in, stating that the war has triggered a severe oil supply shock and wiped out global oil demand growth, but the long-term effects on oil demand are unclear.