The cartel now anticipates a demand increase of 1.3 million barrels per day (bpd) for 2025, down 150,000 bpd from its previous projection. Similarly, the 2026 forecast has been adjusted downward to 1.28 million bpd.
The group has revised its 2026 global oil demand growth estimates and expects the figure to hit 1.28 million barrels per day (mb/d), compared to the 1.45 mb/d projected earlier.
addition, the U.S. exempted certain electronics from reciprocal tariffs, easing fears of a deepening trade war.US markets closed higher fueled by upbeat bank earnings and comments from Fed officials. All 11 S&P 500 sectors gained, with materials and tech leading. Asia markets rose, and European markets up as US exempts some goods from tariffs.
Trump surprised markets with a 90-day pause in reciprocal tariffs for most trading partners. This provided a boost to risk assets, including commodities. However, there’s still plenty of uncertainty as the US again increased tariffs on China.
China’s stimulus package may provide temporary relief, but a deeper issue remains: China’s economy heavily relies on exporting goods to the United States.
US markets closed lower on 04/08 amid trade war fears and weak economic data. Asian markets followed suit with sharp declines, while European shares also fell as recession concerns grew. Oil prices dropped to multi-year lows, and the US dollar slumped as investors anticipate deeper rate cuts by the Federal Reserve.
