OPEC further lowers 2026 global oil demand growth forecast

XLE•2026-07-13

OPEC cuts 2026 demand growth forecast again

LONDON, July 13 - OPEC on Monday lowered its forecast for world oil demand growth in 2026 to 780,000 barrels per day, a copy of its monthly report showed, marking the third straight downward revision.

The producer group continues to see a smaller impact on consumption since the Iran war started than other forecasters such as the International Energy Agency, which expects demand to decline in 2026.

The Organization of the Petroleum Exporting Countries also raised its forecast for 2027 oil demand growth, according to the report seen by Reuters.

OPEC further lowers 2026 global oil demand growth forecast

OPEC cuts 2026 demand growth forecast again

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