What is OPEC's latest forecast for global oil demand growth in 2026, and how does it reflect the trend in their revisions?

OPEC lowered its forecast for world oil demand growth in 2026 to 380,000 barrels per day, marking the fifth straight downward revision. This indicates a consistent and sustained reduction in OPEC’s expectations for oil consumption growth over successive reporting periods.

How does OPEC's outlook for 2026 oil demand compare with the International Energy Agency's (IEA) projection, particularly regarding the impact of the Iran war?

OPEC continues to see a smaller impact on oil consumption from the Iran war than other forecasters like the International Energy Agency (IEA), which expects oil demand to decline in 2026—whereas OPEC still forecasts positive growth of 380,000 barrels per day.

OPEC further lowers 2026 global oil demand growth forecast

Sep 10, 2026

OPEC reduced its 2026 global oil demand growth forecast to 380,000 barrels per day, marking the fifth consecutive downward revision, while raising expectations for 2027 growth.

reuters

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