Expert says oil demand falling as prices spike on Iran war

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Rising oil prices are accelerating demand destruction across regions and industries, according to Janiv Shah, Vice President of Commodity Markets at Rystad Energy. Shah warns that airlines are likely to be hit hardest as fuel costs climb and consumer demand softens. He also weighs in on the UAE’s decision to leave OPEC, arguing the move reflects national energy policy priorities rather than a deeper rift among member countries.