The Organisation of Petroleum Exporting Countries (Opec) has lowered its forecast for world oil demand growth in 2026 to 380,000 barrels per day, a copy of its monthly report shows, marking the fifth straight downward revision, Reuters reports.
The producer group continues to see a smaller impact on consumption since the Iran war started than other forecasters, such as the International Energy Agency, which expects demand to decline in 2026.
Opec has also raised its forecast for 2027 oil demand growth, according to the report on its website.
