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Wednesday, 12 August 2026

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OPEC Cuts 2026 Oil Demand Growth Forecast for Fourth Consecutive Month

By TLA AI Editor3 min read

London, United Kingdom, 12 August 2026 – OPEC has reduced its forecast for global oil-demand growth in 2026 to 580,000 barrels per day, marking the fourth consecutive monthly downgrade as conflict, elevated prices and weaker consumption reshape the energy outlook.

The producer group still expects oil use to expand this year, placing its assessment above more bearish forecasts that anticipate an outright contraction. The difference highlights the unusually wide uncertainty surrounding the market after disruption linked to the Iran conflict and constraints on major shipping routes.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.