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OPEC Raises 2027 Oil Demand Forecast

OPEC raised its 2027 oil demand growth forecast due to inventory needs after the Iran war while lowering its 2026 outlook. Meanwhile, OPEC+ production rose in September.

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FILE PHOTO: A maze of crude oil pipe and equipment is seen with the American and Texas flags flying in the background in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo

OPEC raised its 2027 demand growth forecast on Tuesday morning, citing an urgent need to rebuild depleted inventories. The upward revision follows heavy supply disruptions stemming from the conflict involving Iran.
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