OPEC Lowers 2026 Oil Demand Forecast

OPEC has again lowered its forecast for global oil demand growth in 2026. The revision comes as the oil market begins to look past the Strait of Hormuz as a source of supply disruption. Dubai is already planning for the next Strait of Hormuz crisis. OPEC also raised its oil demand expectations for 2027 while keeping its outlook for global economic growth stable.