OPEC expects global oil demand to increase by 400,000 barrels per day in 2026, which is lower than the organization's forecast at the beginning of the year, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais said on the sidelines of the World Petroleum Congress (WPC Energy), TASS reports.
"Due to ongoing developments, OPEC has lowered its oil demand forecast for this year compared to the figure projected at the beginning of the year. We expect daily oil demand to increase by 400,000 barrels this year, whereas our forecast at the beginning of the year was an increase of 1.4 million barrels," he said.
The Secretary General noted that part of the demand growth would shift to 2027. The organization forecasts that global daily oil demand will increase by 1.7 million barrels next year.
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