Commodities
Oil Prices Plummet on OPEC's Demand-Growth Forecast Trim
OPEC's trimmed demand-growth forecast for 2026 sent oil prices plummeting on Thursday, while a surprise build in US crude stockpiles added to the market's uncertainty.
The Brent price fell to $87.69 a barrel, and US crude (WTI) dropped to $81.97 after OPEC announced that global oil demand growth in 2026 should be 580,000 barrels a day lower than previously expected.
The International Energy Agency also warned of a potential decline in consumption this year due to higher prices and fuel constraints, which could further impact the market.