OPEC lowered its forecast for global oil demand growth in 2026 to 780,000 barrels per day, marking the third consecutive downgrade.
According to Jin10, OPEC said in its monthly report released on Monday that it still sees a smaller impact from the Iran war on oil consumption than other institutions such as the International Energy Agency.
The International Energy Agency forecast that global oil demand will decline in 2026.
The report also said OPEC raised its forecast for global oil demand growth in 2027.
OPEC Cuts 2026 Global Oil Demand Growth Forecast for a Third Time
2026-07-13 12:12:56
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