OPEC lowers global oil demand growth forecasts for 2026

Global oil demand is forecast to grow by 780,000 barrels per day (bpd) in 2026, according to a report released on Monday by the Organization of the Petroleum Exporting Countries (OPEC) which revised downwards its forecast from June.

In its June report, OPEC had forecast global oil demand growth of one million bpd for 2026.

Oil demand in non-OECD (Organization for Economic Cooperation and Development) countries is expected to take up the biggest share and grow by about 740,000 bpd in 2026.

In 2027, global oil demand is estimated to rise by 1.94 million bpd, representing an upward revision of about 200,000 bpd from OPEC's June forecast.

On the supply side, crude oil production by OPEC+ countries increased by about three million bpd month on month in June to average 36.28 million bpd, the report said. However, major producer Saudi Arabia reported lower oil production in June compared with a month ago.

Summer on Nagqu’s grasslands in southwest China’s Xizang Autonomous Region has brought parent‑child scenes, with young animals learning to run, forage and play under their mothers’ care.

The daily life of Tibetan antelopes on the plateau is relaxed, with young calves often seen daydreaming, strolling and grazing quietly alongside their mothers.

Nearby, Tibetan wild asses display gentler family scenes. One foal was spotted playfully tugging at its mother’s ear, while she remained calm and indulgent.

Black‑necked crane mothers show a more attentive side, skillfully picking insects from the grass and feeding them directly to their chicks.

On the same grasslands, Tibetan brown bear cubs dash ahead in playful runs, closely followed by their mothers, whose presence provides both protection and reassurance.