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OPEC Cuts Its Forecast for Global Oil Demand Growth to 780,000 Barrels Per Day

July 14, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
OPEC Cuts Its Forecast for Global Oil Demand Growth to 780,000 Barrels Per Day

The Organization of the Petroleum Exporting Countries (OPEC) has again lowered its forecast for global oil demand growth in 2026 to 780,000 barrels per day, marking the third consecutive downward revision, despite its continued expectations for an improvement in the global economy during the remaining period of the year and raising its estimates for demand growth in 2027. A copy of the organization's monthly report showed that OPEC reduced its forecast for global oil demand growth compared to its previous estimate of 970,000 barrels per day, while continuing to assess the implications of the US-Israeli war on Iran and its effects on energy consumption, considering that its repercussions will be less than the estimates of some other entities, such as the International Energy Agency.

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