OPEC Cuts Oil Demand Forecast for 2025 and 2026 on Trade War
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OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump’s tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters.
The cartel lowered demand growth projections for 2025 and 2026 by about 100,000 barrels a day, projecting an expansion of 1.3 million barrels a day — or approximately 1% — for each year, according to a report from its secretariat in Vienna.