The Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2025 for the first time since December, citing the impact of first-quarter data and tariffs announced by the United States.
In its monthly report, OPEC forecast global oil demand would rise by 1.30 million bpd in 2025 and 1.28 million bpd in 2026, down 150,000 bpd from last month's estimate for both years.
U.S. President Donald Trump's tariffs, along with the OPEC+ plan, have put pressure on oil prices this month and raised concerns about economic growth.
Source (Al-Arabiya.net Website, Edited)
