What is OPEC's current forecast for global oil demand growth in the current year, according to Secretary General Haitham Al Ghais?

OPEC forecasts robust oil demand growth of 1.2 million barrels per day for the current year, as stated by Secretary General Haitham Al Ghais, who emphasized that 'we have not registered signs' of declining demand despite widespread commentary to the contrary.

How does OPEC view the impact of geopolitical disruptions—such as the Middle East conflict and Strait of Hormuz closure—on its oil demand estimates and investment guidance?

According to Al Ghais, OPEC is not changing its oil demand estimates despite the Middle East conflict and closure of the Strait of Hormuz, and he stressed that investments in the oil industry should not be swayed by 'one-off events' anywhere in the world, urging long-term, forward-looking investment to meet future demand.

OPEC Secretary General Says Oil Demand to Remain Robust, No Change to Estimates

Jun 4, 2026

OPEC Secretary General Haitham Al Ghais confirmed robust oil demand growth of 1.2 million barrels per day this year, maintaining current estimates despite Middle East conflicts. He urged continued industry investment to prepare for future demand regardless of geopolitical disruptions.

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