Key facts
- OPEC has reduced its projected oil demand growth for 2026.
- The new forecast estimates demand will increase by 970,000 barrels per day in 2026.
- This represents a decrease from the previously anticipated growth of 1.17 million b/d.
OPEC has revised downward its forecast for global oil demand growth in 2026. The organization now anticipates an increase of 970,000 barrels per day for that year, a reduction from its earlier projection of 1.17 million b/d. This adjustment was detailed in OPEC's most recent Monthly Oil Market Report (MOMR).