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OPEC Cuts Oil Demand Forecast Amid Economic Concerns

4/15/2025

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Summary

Story summary

OPEC's latest report reveals a tempered outlook for global oil demand, projecting an increase of 1.3 million barrels per day in 2025 and 1.28 million in 2026—both figures down by 150,000 barrels from last month. This adjustment comes amid economic growth concerns tied to U.S. tariffs and OPEC+ production strategies. Notably, Kazakhstan surpassed its production quota, hitting 1.85 million barrels daily in March.

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Story summary

OPEC's latest report reveals a tempered outlook for global oil demand, projecting an increase of 1.3 million barrels per day in 2025 and 1.28 million in 2026—both figures down by 150,000 barrels from last month. This adjustment comes amid economic growth concerns tied to U.S. tariffs and OPEC+ production strategies. Notably, Kazakhstan surpassed its production quota, hitting 1.85 million barrels daily in March.