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Commodities

OPEC Cuts Oil Demand Growth Forecast Again Amid Middle East Turmoil

Guavy AI Editorial Team
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Oil
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OPEC has reduced its global oil demand growth projection for 2026 to around 600,000 barrels per day (b/d), a fourth consecutive downward revision. The new estimate is about 200,000 b/d lower than its previous forecast.

The Organization of the Petroleum Exporting Countries (OPEC) lowered its global oil demand forecast due to ongoing conflict in the Middle East, which continues to reshape energy consumption patterns.

OPEC sees global oil demand reaching approximately 105.74 million b/d in 2026, including around 45.91 million b/d from OECD economies, about 200,000 b/d lower than its June projection.

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