Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

OPEC lowers 2025 oil demand forecast over impact of US tariffs

OPEC lowers oil demand forecast over Trump's tariffs' impact. (AFP)
  • The Organization of the Petroleum Exporting Countries now sees global demand reaching at total 105.05 million bpd this year.
  • Oil prices sank to a four-year low last week, dipping under $60 per barrel over concerns about the impact of President Donald Trump's tariffs.

Paris, France — OPEC slightly lowered its forecast for oil demand growth on Monday, citing the impact of US tariffs on the world economy.

The Saudi-led oil cartel said in a monthly report that it now expects demand to grow by 1.3 million barrels per day (bpd) in 2025, down from a previous forecast of 1.4 million bpd.

The “minor adjustment” was mainly due to first-quarter data and “the expected impact on oil demand given recently announced US tariffs”.

The Organization of the Petroleum Exporting Countries now sees global demand reaching at total 105.05 million bpd this year.

It also slightly lowered its global economic growth forecast to three percent.

“The global economy showed a steady growth trend at the beginning of the year, however, the near-term trajectory is now subject to higher uncertainty given the recent tariff-related dynamics,” OPEC said in the report.

Oil prices sank to a four-year low last week, dipping under $60 per barrel over concerns about the impact of President Donald Trump’s tariffs.

Prices were up on Monday, with the international benchmark futures contract, Brent North Sea crude, rising 1.3% to $65.62 per barrel.