OPEC Cuts 2026 Oil Demand Growth Forecast Again
OPEC has lowered its forecast for global oil demand growth in 2026 to 380,000 barrels per day, marking the producer group’s fifth consecutive downward revision.
By Carolina Curiel
Published September 11, 2026
What Readers Should Know
- OPEC now forecasts global oil demand growth of 380,000 barrels per day in 2026.
- This is the group’s fifth consecutive downward revision to its 2026 demand-growth outlook.
- OPEC continues to expect demand growth despite the impact of the Iran war.
- The International Energy Agency expects global oil demand to decline in 2026.
- OPEC also raised its forecast for oil demand growth in 2027.
OPEC Cuts 2026 Demand Growth Forecast Again
MONTREAL (Oil Monster): OPEC on Thursday lowered its forecast for world oil demand growth in 2026 to 380,000 barrels per day, according to its latest monthly report, marking the fifth consecutive downward revision.
OPEC and IEA Maintain Different Demand Views
The producer group continues to see a smaller impact on oil consumption from the Iran war than some other forecasters.
The International Energy Agency expects global oil demand to decline in 2026, while OPEC continues to project growth.
2027 Oil Demand Outlook Raised
The Organization of the Petroleum Exporting Countries also raised its forecast for oil demand growth in 2027, according to its monthly report.
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Courtesy: www.reuters.com