Official/Shutterstock Expectations of economic recession led to an average 220,000 barrel per day downward revision to this year鈥檚 oil demand growth outlook among the five forecasters in this survey.Given myriad uncertainties, there is no consensus as to whether demand growth in 2026 will slow or accelerate compared to the current year.The latest market reports have skewed global balances toward a larger surplus for both this year and 2026. Save for later Print Download Share Global oil market outlooks underwent upheaval this month, triggered by Washington鈥檚 announcement of aggressive tariffs on Apr. 2 and then, the following day, Opec-plus鈥� unexpected decision to bump crude production in May by an additional 274,000 b/d to 411,000 b/d. Within days, benchmark oil prices touched four-year lows.
