OPEC Lowers 2026 Global Oil Demand Growth Forecast
Quick Look
- OPEC has again reduced its 2026 global oil demand growth forecast by 0.2 million barrels per day to 0.97 million bpd.
- The organization also revised down its 2025 growth forecast by 0.2 million bpd to 1.2 million bpd, while increasing its demand forecast for 2027.
AI-generated summary
Why It Matters
OPEC has revised its global oil demand growth forecasts multiple times. This latest revision indicates a continued trend of reduced expectations for future oil consumption.
MOSCOW, June 11. /TASS/. OPEC again lowered its forecast for global oil demand growth in 2026 by 0.2 mln barrels per day (bpd) to 0.97 mln bpd, the organization said in its report.
According to its forecast, global oil consumption may reach 106.13 mln bpd this year. OPEC also revised downward its growth forecast by 0.2 mln bpd to 1.2 mln bpd.
OPEC at the same time increased the forecast figure for 2027 and now expects the demand to grow to 107.86 mln bpd in the next year.
What to Watch
AI outlook — possibilities, not facts
Further downward revisions of oil demand forecasts may occur if economic growth slows globally.
Possible · Within months
Open Questions
- What are the specific factors contributing to the downward revision of demand forecasts?
- Will OPEC adjust its production levels in response to the lowered demand expectations?
- How will this impact global energy prices and economies reliant on oil exports?
