Logo ofOPEC
OPEC cut its global oil demand growth forecast for the current and next year, citing the impact of data received for the first quarter and trade tariffs announced by the U.S. 
The Organization in its monthly report published on Monday, revised downward its forecasts for world oil demand to 1.30 mn barrels per day (bpd) in 2025, and 1.28 mn barrels in 2026, compared to its previous forecasts of 1.45 mn and 1.43 mn barrels, respectively.
It also expected that air travel and heavy traffic on the roads will support the demand for oil; however, this prediction is vulnerable to changes in the global economy due to impending US tariffs.
OPEC also reduced its prediction for global economic growth to 3.1% in 2025 and 3% in 2026, citing that recent trade-related dynamics have cast a shadow of uncertainty on the prospects of short-term growth.
Logo ofOPEC
OPEC cut its global oil demand growth forecast for the current and next year, citing the impact of data received for the first quarter and trade tariffs announced by the U.S.
The Organization in its monthly report published on Monday, revised downward its forecasts for world oil demand to 1.30 mn barrels per day (bpd) in 2025, and 1.28 mn barrels in 2026, compared to its previous forecasts of 1.45 mn and 1.43 mn barrels, respectively.
It also expected that air travel and heavy traffic on the roads will support the demand for oil; however, this prediction is vulnerable to changes in the global economy due to impending US tariffs.
OPEC also reduced its prediction for global economic growth to 3.1% in 2025 and 3% in 2026, citing that recent trade-related dynamics have cast a shadow of uncertainty on the prospects of short-term growth.
