OPEC raises 2027 oil demand view, citing need to rebuild stocks

14/10/2026 02:34 AST

OPEC on Tuesday raised its forecast for world oil demand growth in 2027, citing the need for the world to rebuild inventories that have been depleted by the Iran war.

The Organization of the Petroleum Exporting Countries also lowered its forecast for 2026 oil demand growth, the report on OPEC's website showed, marking the sixth straight downward revision.

OPEC also reported a jump in oil production by the wider OPEC+ producer group in September, led by Saudi Arabia. The top OPEC producer told OPEC that it pumped 8.372 million barrels per day of crude in September, up more than 2 million bpd from August.


Reuters

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