Predicted to fall: The International Energy Agency expects global oil demand to fall by about 1 million barrels per day in 2026, as the Iran war and resulting supply disruptions have weakened consumption. The agency says oil markets have improved after supply recovered through the Strait of Hormuz, but renewed U.S.-Iran tensions could threaten expectations of a future supply surplus. While demand is projected to rebound in 2027, the IEA warns that continued geopolitical instability could keep energy markets volatile. CNBC has the full story.
Parental controls: The European Union is escalating its investigation into Meta over allegations that Facebook and Instagram use addictive design features, such as infinite scrolling and autoplay, that may harm children’s mental health. Regulators say Meta’s existing safeguards, including parental controls and screen-time tools, are insufficient and are pushing the company to make major design changes. If Meta is found in violation of the EU’s Digital Services Act, it could face significant fines and stricter requirements for protecting young users. Bloomberg has the full story.
Cutting production: Volkswagen plans to cut its vehicle lineup by up to half and reduce global production capacity from about 12 million to 9 million vehicles as it works to lower costs and simplify operations. The restructuring comes as the automaker faces declining sales, intense competition from Chinese EV makers, tariffs and a challenging global auto market. The company’s cost-cutting efforts have raised concerns among workers, with potential job losses and factory changes sparking protests and uncertainty over Volkswagen’s future strategy. The Wall Street Journal has the full story.
