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OPEC Cuts 2026 Oil Demand Growth Forecast to 580,000 bpd

8/13/2026

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Summary

Story summary

OPEC cut its 2026 world oil demand growth forecast to 580,000 barrels per day.
The International Energy Agency expects a 1.6 million-bpd demand drop and a 1.27 million-bpd deficit in 2026.
The United States and Yemen’s Iran-aligned Houthis reported attacks on shipping in the Strait of Hormuz and Bab el-Mandeb on Tuesday.

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Story summary

OPEC cut its 2026 world oil demand growth forecast to 580,000 barrels per day.
The International Energy Agency expects a 1.6 million-bpd demand drop and a 1.27 million-bpd deficit in 2026.
The United States and Yemen’s Iran-aligned Houthis reported attacks on shipping in the Strait of Hormuz and Bab el-Mandeb on Tuesday.