OPEC Downgrades 2026 Global Oil Demand Growth Forecast
OPEC has consistently lowered its forecast for global oil demand growth in 2026, with the latest revision placing it at 580,000 barrels per day (bpd). This is a significant reduction from the previous forecast of 780,000 bpd. The organization attributes this change to revised expectations for demand in OECD countries, China, and India. Despite the downgrade, OPEC has increased its forecast for oil demand growth in 2027 to 2.2 million bpd.25 sourcesSee all sources