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macroJun 4, 2026, 12:47 PM

OPEC Sees Slowing Oil Demand Growth Due to Middle East Conflict, Calls It Insignificant

OPEC acknowledges a slowdown in oil demand growth linked to the Middle East conflict but views the impact as minor. The organization expects the global oil supply-demand balance to normalize by the end of 2026.

USOIL

OPEC has indicated a moderation in oil demand growth, attributing it to the ongoing conflict in the Middle East. However, the organization considers this slowdown insignificant in the broader context of the global oil market.

The cartel's secretary-general stated that the balance between supply and demand in the world oil market is expected to level out by the end of 2026. This forecast reflects OPEC's assessment of current geopolitical risks and their limited effect on long-term market fundamentals.

Source: MarketTwits