OPEC Cuts Global Oil Demand Growth Forecast for Fourth Time

OPEC has revised its forecast for global oil demand growth downward yet again. For 2026, the organization now expects an increase of just 580,000 barrels per day.

This marks the fourth consecutive decrease in projected demand growth, according to OPEC's latest report.

The Organization of Petroleum Exporting Countries remains cautious about the impact on consumption since the start of the Iran war. In contrast to other forecasters like the International Energy Agency, OPEC sees a smaller effect on oil demand.