OPEC cuts 2026 global oil-demand growth forecast to 380,000 b/d
OPEC cut its 2026 global oil-demand growth forecast to 380,000 b/d from 580,000 b/d. The change is reported in the same figure basis across the update.
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12:05:00 PM UTC
SquawkNews
Saudi Arabia told OPEC its production declined again, while the group sharply cut its 2026 global oil-demand growth forecast to 380K bpd from 580K. OPEC, however, raised its 2027 demand-growth outlook to 2.36M bpd from 2.16M, signaling a significant rebound next year. OPEC+ crude production averaged 38.05M bpd in August, up roughly 300K bpd from July.
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