ReportedShipping, energy & marketsGlobal oil market
OPEC forecasts 2.6 million bpd oil-demand growth in 2027
- Mountain Time
- Local time
- 9:30 PM UTC
- Where
- Global oil market
OPEC forecasts global oil demand will grow by 2.6 million barrels per day in 2027, following projected growth of 200,000 bpd in 2026, OilPrice.com reported. The forecast includes inventory rebuilding after drawdowns during the Iran war.
Why it matters
A large projected restocking cycle would increase competition for crude supplies and could support prices while Hormuz-related shipping constraints limit available barrels.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels