16:29 - 13.10.2026

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October 13, Fineko/abc.az. The Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand growth in 2027 to 2.6 million barrels per day (bpd), up from 2.4 million bpd in its previous monthly report.

The cartel cited the critical need for countries to rebuild global petroleum inventories that have been heavily depleted due to ongoing conflict in Iran.

Conversely, OPEC trimmed its 2026 demand growth forecast for the sixth consecutive month to 0.2 million bpd. The report also highlighted a surge in crude production across the broader OPEC+ group during September, led by Saudi Arabia, which reported pumping 8.372 million bpd—an increase of over 2 million bpd compared to August.