OPEC lowers its forecast for global oil demand growth for the remainder of 2026, citing ongoing risks to shipping linked to Iran and associated groups. In its latest update, OPEC projects demand will rise by about 200,000 barrels per day versus 2025, a reduction from its prior estimate.
At the same time, OPEC raises its 2027 oil demand forecast, projecting a larger increase of 2.55 million barrels per day. Quartz attributes the higher 2027 outlook to expectations of a post-conflict inventory rebound, as governments and energy companies rebuild stockpiles that are assumed to have been drawn down. Together, the reports point to near-term uncertainty affecting demand growth in 2026 while anticipating stronger consumption and restocking activity in 2027.
