00:00OPEC has lowered its forecast for global oil demand growth this year for the second month in a row, signaling
00:07a softer outlook for consumption.
00:09The group now expects demand in 2026 to rise by 970,000 barrels per day from 2025 levels, down from
00:18a previous estimate of 1.17 million barrels per day.
00:23The downward revision was driven mainly by weaker demand expectations in non-OECD countries.
00:30While the short-term outlook has been lowered, OPEC is more optimistic further out, raising its forecast for 2027 to
00:38a gain of 1.73 million barrels per day.
00:41The report comes as energy markets continue to balance slowing demand signals with a broader backdrop of geopolitical tensions and
00:49uneven global growth.
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