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        <firstCreated>2026-09-11T00:40:35Z</firstCreated>
		
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        <contentCreated>2026-09-10</contentCreated>
		
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        <dateline xml:lang="en">Sept 10, 2026/File</dateline>
        <slugline xml:lang="en">Various-OPEC/Oil Demand</slugline>
        <headline xml:lang="en">OPEC further downgrades estimate for global oil demand growth in 2026</headline>
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The Organization of the Petroleum Exporting Countries (OPEC) on Thursday again downgraded its estimate for the growth in global oil demand in 2026 to about 380,000 barrels per day (bpd) year-on-year, down 34 percent from the August estimate. 

The revision marked the fifth consecutive month in which OPEC has reduced its 2026 oil demand growth forecast, putting figure at 1.17 million bpd in May, 970,000 bpd in June, 780,000 bpd in July and 580,000 bpd in August.

The figure was published by OPEC in its latest monthly oil market report, which takes into account economic growth trends and current challenges, including the economic impact of geopolitical tensions, a resurgence of inflationary pressures, and ongoing uncertainty regarding U.S. trade tariff policies. 

Despite the lower forecasts for 2026, the report continued to revise up its forecasts for 2027, with global oil demand expected to rise by about 2.4 million bpd year-on-year, compared with the August estimate of 2.2 million bpd year-on-year. 

According to Thursday's report, the upward revision is driven by expectations for increased demand in both Organization for Economic Cooperation and Development (OECD) countries and non-OECD countries. 

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Beijing, China - Sept 10, 2026 (CCTV Video News Agency - No access Chinese mainland) 
1. Screenshots of OPEC's monthly oil market report for September 

FILE: Vienna, Austria - Date Unknown (CCTV - No access Chinese mainland) 
2. Various of exterior of OPEC headquarters 

FILE: Washington D.C., USA - June 2026 (CCTV - No access Chinese mainland) 
3. Various of gas station, fuel dispenser 

FILE: Miami, Florida, USA - June 2026 (CGTN - No access Chinese mainland) 
4. People filling gas at gas station 

FILE: Japan - Date and Exact Location Unknown (CCTV - No access Chinese mainland) 
5. Various of gas station, worker refueling car 
6. Amount of gas shown on pump 

FILE: Osaka, Japan - March 26, 2022 (CCTV - No access Chinese mainland) 
7. Various of resident refueling car 

FILE: Mumbai, India - June 29-30, 2026 (CGTN - No access Chinese mainland) 
8. Vehicle at gas station 
9. Board showing diesel, compressed natural gas prices 
10. Traffic; stores along road 

FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland) 
11. Various of oil processing facilities 
12. Gas flaring 

FILE: Iraq - March 7, 2016 (CCTV - No access Chinese mainland) 
13. Various of oil refineries
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