The Organization of the Petroleum Exporting Countries (OPEC) on Monday revised down its forecast for global oil demand growth in 2025 to 1.3 million barrels per day (bpd), citing the expected impact of recently announced U.S. tariffs.
The adjustment, compared with the previous forecast of 1.45 million bpd, was outlined in OPEC's monthly oil market report.
The organization also lowered its outlook for 2026, again attributing the adjustment to the projected impact of new U.S. tariffs. It now expects demand to rise by 1.28 million bpd in 2026, against the previous projection of 1.43 million bpd.
OPEC highlighted that the near-term trajectory of the global economy now faces greater uncertainty due to these tariff-related developments. As a result, the Vienna-based organization trimmed its global economic growth forecasts to 3 percent for 2025 and 3.1 percent for 2026.
Projections for the U.S. economic growth were also reduced, to 2.1 percent for 2025 and 2.2 percent for 2026.
As for the eurozone, which continues to experience sluggish growth, the report slightly lowered its 2025 growth forecast. However, it noted that fiscal and monetary stimulus measures may help offset the negative effects of the tariffs.
Regarding China, the report acknowledged that the country could be more significantly impacted by trade disputes. Nevertheless, it said the Chinese economy has tools to mitigate the effects, such as domestic stimulus measures and further diversification of its export markets.
OPEC lowers 2025 oil demand outlook
OPEC lowers 2025 oil demand outlook
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
