OPEC cuts 2026 global oil demand growth forecast by 200,000 barrels

The Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for global oil demand growth in 2026 for the second consecutive month, Report informs, citing the organization.

According to OPEC's monthly report, analysts now expect demand to rise by 0.97 million barrels per day, reaching 106.13 million barrels per day. The previous forecast projected growth of 1.17 million barrels per day, bringing demand to 106.33 million barrels per day.

Thus, the estimate has been reduced by 200,000 barrels per day.

OPEC's projections indicate that in 2027, global oil demand will reach 107.86 million barrels per day.