OPEC cuts 2026 oil demand growth forecast for a third straight month, to 800,000 bpd
14 July 2026 | 3 months ago
In its monthly oil market report published on Monday, July 13, OPEC lowered its 2026 global oil demand growth forecast for a third consecutive month, to about 800,000 barrels per day.
The report attributed the bulk of that growth, roughly 740,000 barrels per day, to non-OECD countries. OPEC also put 2027 demand growth at 1.94 million barrels per day. OPEC+ crude output rose by about 3 million barrels per day in June to average 36.28 million barrels per day.
OPEC's demand outlook and supply policy carry direct significance for the oil-reliant economy of Iran, a member of the organization.
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