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OPEC Lowers 2026 Oil Demand Forecast
OPEC has lowered its forecast for global oil demand growth in 2026 to 580,000 barrels per day, marking the fourth consecutive cut, as demand estimates remain lower than those of the International Energy Agency, which predicts a decline in demand in 2026. However, in 2027, the organization increased its forecast for oil demand growth. Additionally, the price of Brent crude fell to $88.42 per barrel, and West Texas Intermediate to $82.95, following a decline in the global markets.
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