OPEC lowers oil demand growth forecasts for 2026
OPEC made the forecast in its latest monthly oil market report. In its previous report in July, the organization estimated a global oil demand growth of 800,000 bpd year-on-year for 2026...
✨ Key Highlights
The Organization of the Petroleum Exporting Countries (OPEC) has revised down its forecast for global oil demand growth in 2026.
- Global oil demand is now expected to grow by 600,000 barrels per day year-on-year in 2026, a decrease from the previous estimate of 800,000 bpd.
- The forecast was made by OPEC in its latest monthly oil market report.
- Despite the lower 2026 forecast, OPEC revised up its demand growth forecast for 2027 to approximately 2.2 million bpd.
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