21 Hrs
Source:
الاقتصادية
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OPEC Revises Global Oil Demand Forecast Downward
OPEC has lowered its forecast for global oil demand growth in 2026 for the sixth consecutive month, now projecting an increase of 200,000 barrels per day compared to about 400,000 barrels in August. This revision reflects widespread weakness in advanced economies, with OPEC expecting a contraction of about 210,000 barrels per day in demand within OECD countries, while non-member economies are expected to grow by approximately 390,000 barrels per day. Nevertheless, OPEC predicts a recovery in global oil demand in 2027, with an increase of around 2.6 million barrels per day, driven by strong growth in non-member countries. Projections also suggest an increase in production outside of OPEC+ by 640,000 barrels this year and 620,000 barrels in 2027. Demand forecasts remain subject to change based on geopolitical developments and supply disruptions, especially considering the rising production of the OPEC+ coalition and the diminished influence of countries like Iran on the oil market.
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