OPEC lowers global oil demand growth forecast for third consecutive month

OPEC has reduced its projection for global oil demand growth in 2026 for the third month in a row, lowering it by 200,000 barrels per day. The organization now anticipates total demand to reach 105.94 million b/d, with growth at approximately 800,000 b/d. This downward adjustment is attributed to increased market uncertainty and economic pressures stemming from ongoing geopolitical instability in the Middle East.