The adjustment to the outlook was disclosed by al-Ghais on Oct. 12. The revision indicates that the current growth in oil consumption is less than a third of the volume initially predicted by the group for the 2026 calendar year.
Tuesday, October 20, 2026
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OPEC Cuts Oil Demand Growth Forecast to 400,000 BPD from 1.4 Million
Commodities9 days ago
Secretary General Haitham al-Ghais announced an update to the organization's projections for the global increase in fuel requirements. OPEC now expects demand growth for this year to be 400,000 barrels per day, which is a decrease of 1 million barrels per day from the 1.4 million barrels per day forecast at the start of the year.
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