VIENNA - The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that the global oil demand is forecast to grow by a "healthy" 1.2 million barrels per day (bpd) year-on-year in 2026, lower than its previous estimate.

VIENNA - The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that the global oil demand is forecast to grow by a "healthy" 1.2 million barrels per…

The agency thus worsened its demand forecast by 334,000 bpd compared with its April expectations, when the IEA projected a decline of 84,000 bpd

OPEC on Wednesday lowered its forecast for global oil demand growth in 2026, joining other forecasters such as the International Energy Agency in cutting

The IEA and Opec have both lowered their forecasts for global oil demand in 2026, but the producer group sees a far more resilient oil market.

OPEC cut its demand growth estimates for 2026 to about 1.2 million barrels per day.