{"id":2000119240,"date":"2026-07-14T07:41:04","date_gmt":"2026-07-14T05:41:04","guid":{"rendered":"https:\/\/new.igihe.com\/english\/?p=2000119240"},"modified":"2026-07-14T07:41:06","modified_gmt":"2026-07-14T05:41:06","slug":"opec-lowers-oil-demand-growth-forecasts-for-2026","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/opec-lowers-oil-demand-growth-forecasts-for-2026\/","title":{"rendered":"OPEC lowers oil demand growth forecasts for 2026"},"content":{"rendered":"\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\n\n\n

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

\"\"
In 2027, global oil demand is estimated to rise by about 1.9 million bpd year-on-year<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

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).<\/p>\n","protected":false},"author":3,"featured_media":2000119242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[101],"byline":[235],"hashtag":[],"class_list":["post-2000119240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-internationl","byline-xinhua"],"bylines":[{"id":235,"name":"Xinhua","slug":"xinhua","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":80}],"contributors":[{"id":235,"name":"Xinhua","slug":"xinhua","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":80}],"featured_image":{"id":2000119242,"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":1022,"height":575,"sizes":{"thumbnail":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","width":1022,"height":575},"medium":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","width":1022,"height":575},"medium_large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","width":1022,"height":575},"large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","width":1022,"height":575},"full":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/0001285030_resized_adobeupstreamoilandgasmwoct2310223.jpg","width":1022,"height":575}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000119240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=2000119240"}],"version-history":[{"count":1,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000119240\/revisions"}],"predecessor-version":[{"id":2000119243,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000119240\/revisions\/2000119243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000119242"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=2000119240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=2000119240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=2000119240"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=2000119240"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=2000119240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}