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OPEC raises 2027 oil demand view, citing need to rebuild stocks
- On Tuesday, OPEC lowered its 2026 oil demand growth forecast to 400,000 barrels per day, marking the sixth straight downward revision for the year.
- Heightened hostilities in the Middle East and Russia prompted the revision, as the Iran war depletes global inventories according to the report on the website of The Organization.
- The International Energy Agency reported global demand will decline by 2.5 million barrels per day this year, citing a "continuing impasse in negotiations between the United States and Iran."
- Citing the need to rebuild inventories depleted by the Iran war, OPEC raised its 2027 world oil demand growth forecast on Tuesday.
- Approximately 325 million barrels of oil have been released under the March 2026 Collective Action, with 100 million more set for release as The IEA stands ready to provide further supplies.
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OPEC Sees Oil Demand Growth Surging to 2.6 Million Bpd in 2027
OPEC just put a very large number on next year’s oil market: global demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 bpd this year. That would push average world oil demand from 105.7 million bpd in 2026 to 108.3 million bpd next year. OPEC also revised its 2027 demand forecast higher this month, even as it nudged this year’s growth estimate lower. Part of that jump has little to do with people suddenly driving …
·New York, United States
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OPEC raises 2027 oil demand view, citing need to rebuild stocks
·London, United Kingdom
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The production of liquid hydrocarbons by non-OPEC+ countries will increase by 640,000 barrels per day (b/s) by 2025, to 54.84 million b/s, forecast by OPEC in 2026.
Coverage Details
Total News Sources21
Leaning Left0Leaning Right1Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
C 83%
R 17%
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