The Organization of the Petroleum Exporting Countries (OPEC) forecast in its latest monthly oil market report released on Wednesday that global oil demand will grow by a "healthy" 1.17 million barrels per day (bpd) year on year in 2026, lower than its previous estimate of 1.38 million bpd.
OPEC said it expects total world oil demand for the second quarter of 2026 to be 104.57 million bpd, lower than the previous forecast of 105.07 million bpd.
OPEC said it is estimating global oil demand will rise by about 1.54 million bpd in 2027 year on year, representing an upward revision of about 200,000 bpd from its April forecast.
The report forecast that oil demand in countries in the Organization for Economic Cooperation and Development (OECD) will grow by about 100,000 bpd year on year in 2026, and by about 1.1 million bpd in non-OECD countries.
OPEC forecast oil demand in OECD countries in 2027 will grow by 200,000 bpd compared to this year, and by about 1.3 million bpd in non-OECD countries.
OPEC lowers forecast for 2026 global oil demand growth
OPEC lowers forecast for 2026 global oil demand growth
China's top political advisor Wang Huning on Monday called for firmly following the right path for solving ethnic issues with Chinese characteristics and pooling mighty force to advance Chinese modernization.
Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, made the statement when meeting with a delegation of 150 representatives of ethnic minority groups from across China.
Noting that the cause of China's ethnic unity and progress faces new developments and tasks during the 15th Five-Year Plan period (2026-2030), Wang urged the representatives to study and implement the law on promoting ethnic unity and progress and lead people of all ethnic groups to maintain and safeguard ethnic unity.
Wang called for further work to foster a strong sense of community for the Chinese nation, promote the common progress of all ethnic groups towards socialist modernization, and facilitate extensive exchanges and integration among all ethnic groups.
He urged the representatives to stay unswervingly committed to the country's modernization drive and contribute to the high-quality development of the ethnic minority areas, in efforts to lead people of all ethnic groups to jointly create a better life.
The delegation consisted of individual role models and representatives of model units honored for their work in promoting ethnic unity and progress at the provincial-level and above since 2024.
China's top political advisor meets representatives of ethnic minority groups
