OPEC Lowers 2026 Global Oil Demand Growth Forecast for Third Consecutive Time

The Organization of the Petroleum Exporting Countries (OPEC) has reduced its forecast for world oil demand growth in 2026 to 780,000 barrels per day, marking the third consecutive downward revision. This adjustment reflects a smaller anticipated impact on consumption compared to other forecasters, such as the International Energy Agency, which projects a decline in demand for 2026. OPEC also raised its forecast for 2027 oil demand growth.