OPEC Cuts 2026 Demand-Growth Forecast Again

July 13, 2026

News summary: Reuters reported OPEC cut its 2026 global oil-demand growth forecast to 780,000 bpd while noting that Hormuz flows had begun to recover from very low levels.

Market context: The market was balancing weaker demand growth against route disruption, so headline supply risk did not translate one-for-one into price.