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Commodities

OPEC Cuts Oil Demand Growth Forecast Amid Rising Prices

Guavy AI Editorial Team
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Oil
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OPEC has reduced its forecast for global oil demand growth in 2026 to 400,000 barrels per day, down from 600,000 barrels per day anticipated in August.

The Organization of the Petroleum Exporting Countries (OPEC) made this revision in its September monthly report, citing recent developments that have driven up oil prices above $100 a barrel.

Total global consumption would reach 105.84 million barrels per day for the full year, according to OPEC's forecasts.

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