The Organization of the Petroleum Exporting Countries (OPEC) has once again cut its forecast for global oil demand growth for 2026 to 380,000 barrels a day, down from a previous estimate of 580,000 barrels a day. This adjustment comes as escalating attacks on Gulf shipping continue to disrupt key export routes, pushing oil prices past $100 a barrel.
Conversely, OPEC raised its 2027 demand growth forecast to 2.36 million barrels a day, up from a previous estimate of 2.16 million barrels a day.
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OPEC Further Cuts 2026 Oil Demand Growth Forecast, Raises 2027 Outlook Amid Oil Prices Surpassing $100
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