OPEC said in its latest monthly report on Thursday it cut its 2026 global oil demand growth forecast to 0.97 mln b/d, marking a second consecutive downgrade. Since the outbreak of the Iran war, OPEC judges the conflict’s impact on consumption remains

2026-06-11

OPEC said in its latest monthly report on Thursday it cut its 2026 global oil demand growth forecast to 0.97 mln b/d, marking a second consecutive downgrade. Since the outbreak of the Iran war, OPEC judges the conflict’s impact on consumption remains smaller than estimated by the EIA and IEA; both the EIA and IEA forecast 2026 demand will decline. The report also raised OPEC’s 2027 oil demand growth forecast.