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OPEC Cuts Global Oil Demand Growth Forecast for 2026

MT Newswires·10/13/2026 09:40:45
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09:40 AM EDT, 10/13/2026 (MT Newswires) -- The Organisation of the Petroleum Exporting Countries now expects global oil demand in 2026 to increase by 180,000 barrels per day from the previous year, down from its previous growth forecast of 380,000 barrels per day. For 2027, OPEC raised its global oil demand growth forecast to 2.55 million barrels per day from the prior estimate of 2.36 million barrels per day, according to its latest Monthly Oil Market Report published Tuesday. OPEC's total crude oil production in September stood at 25.10 million barrels per day, based on secondary sources, compared with 24.2 million barrels per day in August.