Hanoi:The Organization of the Petroleum Exporting Countries (OPEC) has revised its forecast for global oil demand growth in 2026. The projection has been reduced to 400,000 barrels per day, a significant decrease from the initial estimate of 1.4 million barrels per day made earlier this year.
According to Oman News Agency, Haitham Al Ghais, the Secretary-General of OPEC, explained that this revision aligns with the developments observed during 2026. He noted that OPEC expects the deferred demand to be compensated in 2027, with the anticipation of a surge in demand due to postponed consumption during the current period.
The oil markets are experiencing impacts from expectations of increased Russian fuel supplies. This follows an announcement by US President Donald Trump regarding an agreement to supply Russian diesel to both American and global markets. Additionally, there are discussions about a potential agreement between Russia and Ukraine to cease reciprocal attacks on energy facilities.
