The Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for global oil demand growth in 2026 to 400,000 barrels per day, down from an estimate of 1.4 million barrels per day at the beginning of the year, according to a post by OGN Energy Media (Oil, Gas, Petrochemicals & Renewables) on Instagram dated October 13, 2026. OPEC Secretary-General Haitham Al Ghais said the downward revision reflects developments witnessed during 2026. The post did not provide further details on the specific factors behind the revision.
The full report was published by OGN on its website, ognnews.com, under the headline "OPEC cuts 2026 global oil demand growth forecast to 400,000 bpd". Source: OGN Energy Media, Instagram post (instagram.com/p/DedlSGvjYyA), referencing ognnews.com, Article TA/487905.
Source: instagram.com