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OPEC said in its September Monthly Oil Market Report that world oil demand would increase by 380,000 bpd in 2026, down from its August forecast of 580,000 bpd growth. OPEC also raised its 2027 demand growth forecast to around 2.36m bpd from 2.16m previously.
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.
OPEC RAISES 2027 GLOBAL OIL DEMAND GROWTH FORECAST TO 2.36 MILLION BPD (PREV. FORECAST 2.16 MILLION BPD) || OPEC SAYS OPEC+ CRUDE OUTPUT (INCLUDING FORMER MEMBER UAE) AVERAGED 38.05 MILLION BPD IN AUGUST 2026, UP ABOUT 300,000 BPD FROM JULY || OPEC CUTS 2026 GLOBAL OIL DEMAND GROWTH FORECAST TO 380,000 BARRELS PER DAY
Crude oil trades near $81 per barrel after a prior-session decline as investors wait for efforts to reopen the Strait of Hormuz, while the IEA cuts demand outlook and OPEC lowers 2026 growth to 580,000 bpd.
OPEC cuts 2026 global oil demand growth forecast to 580,000 barrels per day
OPEC cuts 2026 global oil demand growth forecast to 580,000 barrels per day
OPEC cuts 2026 global oil demand growth forecast to 580,000 barrels per day
OPEC: OPEC+ crude output (including former member UAE) averaged 36.28 million bpd in June 2026, up about 3 million bpd from May, led by gains in Gulf producers.
OPEC raises 2027 global oil demand growth forecast to 1.94 million bpd (prev. forecast 1.73 million bpd)