The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth this year for the second month in a row, citing the prospects for weakening demand in non-OECD economies.
In its monthly oil market report released on Thursday, the Vienna-based oil group projected that global oil demand in 2026 will rise by 970,000 barrels per day from 2025 levels, down from the 1.17 million-barrel growth forecast in its May report and the 1.38 million forecast in April.
The downward revision, according to the report, was driven primarily by reduced demand expectations from non-OECD countries.
OPEC lowers forecast for 2026 global daily oil demand growth for second straight month
UN Secretary-General Antonio Guterres voiced concern over the latest escalation in the Middle East, his spokesman said on Thursday.
Guterres is deeply concerned by the continuing escalation in the Middle East, including the strikes by the United States on Iran and the strikes by Iran on neighboring countries in the Gulf and beyond, and a significant increase in hostile rhetoric, spokesman Stephane Dujarric said in a statement.
"He (Guterres) urges the parties to return to the full implementation of the ceasefire, to avoid any further deterioration, which, as he told the Security Council yesterday (Wednesday), could trigger a full resumption of the conflict, with unpredictable consequences for the region and the world, especially for those in the most vulnerable countries," said Dujarric.
The secretary-general reiterates that the only way forward is through genuine dialogue and negotiations. He calls on the United States and Iran to redouble their efforts toward a peaceful, comprehensive and durable agreement that advances regional and international peace and security, said the spokesman.
UN chief voices concern over escalation in Mideast
