OPEC has sharply reduced its forecast for global oil demand growth in 2026, from 1.4 million to just 400,000 barrels per day. The downgrade reflects weaker-than-expected consumption growth and changing market conditions. However, OPEC expects demand to recover in 2027 as postponed consumption returns. The announcement highlights growing uncertainty surrounding global oil markets and future energy demand.
Source
https://nairametrics.com/2026/10/12/opec-slashes-2026-oil-demand-forecast-by-over-70-to-400000-bpd