{"id":540565,"date":"2026-07-14T07:29:14","date_gmt":"2026-07-14T07:29:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/540565\/"},"modified":"2026-07-14T07:29:14","modified_gmt":"2026-07-14T07:29:14","slug":"opec-lowers-oil-demand-growth-forecasts-for-2026","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/540565\/","title":{"rendered":"OPEC lowers oil demand growth forecasts for 2026"},"content":{"rendered":"

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is displayed outside of OPEC’s headquarters in Vienna, Austria, March 3, 2022. (PHOTO \/ AP)\u00a0<\/p>\n

VIENNA \u2013 Global oil demand is forecast to grow by 800,000 barrels per day (bpd) in 2026 year-on-year, said a report released on Monday by the Organization of the Petroleum Exporting Countries (OPEC)<\/a>.<\/p>\n

OPEC made the forecast in its latest monthly oil market report. Of the total 800,000 bpd demand growth, the oil demand in the non-OECD (Organization for Economic Cooperation and Development) countries is expected to take up the biggest share and grow by about 740,000 bpd year-on-year in 2026.<\/p>\n

In its June report, OPEC had forecast global oil demand growth of 1 million bpd year-on-year for 2026.<\/p>\n

ALSO READ: OPEC Fund launches $1.5b initiative to support economic stability, trade<\/a><\/p>\n

In 2027, global oil demand is estimated to rise by about 1.9 million bpd year-on-year, representing an upward revision of about 200,000 bpd from OPEC’s June forecast.<\/p>\n

On the supply side, the report said that in June, crude oil production by OPEC+ countries increased by about 3 million bpd month-on-month to average at 36.28 million bpd. However, major producer Saudi Arabia reported lower oil production in June compared with a month ago.<\/p>\n","protected":false},"excerpt":{"rendered":"The logo of the Organization of the Petroleum Exporting Countries (OPEC) is displayed outside of OPEC’s headquarters in…\n","protected":false},"author":2,"featured_media":424355,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,156787,85,46,38372,6805,1589,78],"class_list":["post-540565","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-global-oil-demand","tag-il","tag-israel","tag-oil-production","tag-opec","tag-organization-of-the-petroleum-exporting-countries","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/540565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=540565"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/540565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/424355"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=540565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=540565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=540565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}