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Oil demand

News update related to oil demand.

Demand for cooking oil and sugar in India has fallen due to the fuel crisis.

The shortage of liquefied petroleum gas (LPG) is forcing restaurants in India to downsize, leading to a sharp decline in the consumption of sugar and vegetable oils in the market.

Market

OPEC lowered its forecast for oil demand in the second quarter of 2026 to 105.07 million barrels per day.

The Organization of Petroleum Exporting Countries (OPEC) has just revised down its oil demand forecast for the second quarter of 2026 by 500,000 barrels per day due to the impact of tensions in the Middle East.
US crude oil production and demand fell to multi-month lows.

According to the EIA, US crude oil production in November 2025 will fall to 13.78 million barrels per day, while demand will also reach its lowest level since April 2025.

OPEC forecasts a 400,000 barrel/day drop in crude oil demand in the second quarter of 2026.

The latest OPEC market report indicates that oil demand from the OPEC+ group will fall to 42.20 million barrels per day in the second quarter of 2026, raising concerns about localized oversupply.
The IEA lowers its forecast for global oil demand in 2026, causing Brent prices to fall below $70.

The International Energy Agency (IEA) forecasts that the oil market will face a surplus of 3.73 million barrels per day in 2026 due to slowing demand growth.
Services capitalizing on the demand at the beginning of the Lunar New Year are booming.

After the Lunar New Year holiday, the demand for spring excursions, offering incense to pray for peace, and tidying up living spaces continues to increase. Capitalizing on this sentiment, post-Tet services in...
The IEA has lowered its forecast for global oil demand in 2026, warning of a supply surplus of 3.73 million barrels per day.

The International Energy Agency (IEA) has just revised down its forecast for oil demand growth in 2026 to 850,000 barrels per day, while warning that the market faces a significant oversupply.

OPEC forecasts a 400,000 barrel per day drop in crude oil demand in the second quarter of 2026.
February 13, 2026 18:01

An OPEC report indicates that OPEC+ crude oil demand for the second quarter of 2026 will fall to 42.20 million barrels per day, raising concerns about oversupply in the global market.
China's palm oil demand is projected to decline in 2026 due to pressure from soybean and rapeseed oil.
February 12, 2026 14:00

The global palm oil market is facing pressure as China shifts to cheaper rapeseed and soybean oils, causing Malaysia's exports to the country to fall by 35.7%.
With declining demand for palm oil in China, prices are projected to range between $1,045 and $1,122 in 2026.
February 12, 2026 05:03

China is accelerating its shift towards cheaper rapeseed and soybean oils, leading to a sharp decline in palm oil imports, while supplies from Indonesia are expected to continue to increase.
US oil production is projected to fall to 13.78 million barrels per day in November 2025.
February 10, 2026 09:01

A report from the EIA shows that US crude oil production has fallen by 82,000 barrels per day, while fuel demand has plummeted to its lowest level since April 2025.
Silver price today, December 8, 2025: Reaching a new peak due to investment demand and limited supply.
December 8, 2025 11:45

Silver prices today, December 8, 2025: The week opened slightly higher, setting a new historical high thanks to declining inventories and strong industrial demand. Domestic silver prices remain at high levels.

Oil demand

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