What is OPEC's latest forecast for global oil demand growth in 2026, and how does it compare to its previous forecasts?

OPEC lowered its forecast for world oil demand growth in 2026 to 580,000 barrels per day, marking the fourth straight downward revision.

How does OPEC's outlook for 2026 oil demand differ from the International Energy Agency's (IEA) projection?

OPEC continues to see a smaller impact on oil consumption from the Iran war than the IEA, which expects oil demand to decline in 2026, whereas OPEC still forecasts positive growth of 580,000 barrels per day.

OPEC further lowers 2026 global oil demand growth forecast

Aug 12, 2026

OPEC lowered its 2026 global oil demand growth forecast to 580,000 barrels per day, marking the fourth straight downward revision. The group simultaneously raised its demand growth projection for 2027.

reuters

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