What is OPEC's revised 2026 global oil demand growth forecast, and how does it compare to its previous projections?

OPEC lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, marking the second straight downward revision.

How does OPEC's outlook for 2026 oil demand differ from that of the U.S. Energy Information Administration (EIA) and the International Energy Agency (IEA)?

Unlike the U.S. Energy Information Administration and the International Energy Agency — both of which expect oil demand to decline in 2026 — OPEC continues to see a smaller impact on consumption since the Iran war started.

OPEC again lowers 2026 global oil demand growth forecast

Jun 11, 2026

OPEC reduced its 2026 global oil demand growth forecast to 970,000 barrels per day, marking the second consecutive downward revision, while raising expectations for 2027.

reuters

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