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OPEC
Cuts Forecast for Oil Demand Growth in 2026 to 400,000 Barrels Per Day
Vienna,
12 Oct 2026 (ONA) — The Organization of the Petroleum Exporting Countries
(OPEC) has cut its forecast for global oil demand growth during 2026 to 400,000
barrels per day, compared with estimates of 1.4 million barrels per day at the
beginning of the year.
Haitham
Al Ghais, OPEC Secretary-General, said the revision of the forecasts comes in
line with the developments witnessed during 2026.
He
added that OPEC expects deferred demand to be compensated for during 2027,
anticipating the emergence of pent-up demand as a result of postponed consumption
during the current period.
Oil
markets are being affected by expectations of increased Russian fuel supplies,
following US President Donald Trump’s announcement of an agreement to supply
Russian diesel to American and global markets, and talk of a potential
agreement between Russia and Ukraine to halt reciprocal attacks on energy
facilities.
—
Ends/Khalid
