Commodities
Oil Prices Mixed Amid Cuts to Global Demand Forecasts
Oil prices were mixed on Wednesday as major energy agencies cut their forecasts for global oil demand. Brent crude futures were down 0.25% at $88.69, while US WTI crude was up 0.22% and trading at $83.44.
The Organisation of Petroleum Exporting Countries (OPEC) reduced its forecast for global oil demand growth in 2026 to 580,000 barrels per day in its latest monthly oil market report.
Meanwhile, the International Energy Agency (IEA) also revised its outlook lower, projecting a contraction in global oil demand of 1.6 million barrels per day this year.