Topic: #opec
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OPEC Raises 2027 Oil Demand Forecast to 1.94M Barrels Per Day
OPEC revised its 2027 global oil demand growth forecast to 1.94 million barrels per day, up from 1.73M bpd, while lowering its 2026 estimate to 780,000 bpd amid short-term economic uncertainties and anticipated rebound driven by China and India growth.
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OPEC+ raises oil quotas 188,000 barrels per day in July amid supply constraints
OPEC+ announced a collective production increase of 188,000 barrels per day starting in July, marking the fourth consecutive monthly hike. Analysts warn the quota raise is largely symbolic given Middle East supply disruptions and the UAE's recent departure from the alliance.