EIA Cuts 2026-2027 Global Oil Demand Forecasts to 1.028B, 1.048B Barrels per Day

According to the EIA's Short-Term Energy Outlook report released today, the agency lowered its global crude oil demand forecasts for both 2026 and 2027. The 2026 forecast was revised down to 102.8 million barrels per day from the prior estimate of 102.9 million barrels per day. For 2027, the EIA reduced its projection to 104.8 million barrels per day, down from the previous forecast of 105.3 million barrels per day.
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