Oct 13 – OPEC on Tuesday raised its forecast for world oil demand growth in 2027, citing the need for the world to rebuild inventories that have been depleted by the Iran war, according to a copy of its monthly report seen by Reuters.
The Organization of the Petroleum Exporting Countries also lowered its forecast for 2026 oil demand growth, the report showed, marking the sixth straight downward revision.
OPEC also reported a jump in oil production by the wider OPEC+ producer group in September, led by Saudi Arabia. The top OPEC producer told OPEC that it pumped 8.372 million barrels per day of crude in September, up more than 2 million bpd from August.
(Reporting by Reuters; Editing by Louise Heavens)
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