# Opec lowers second-quarter global oil demand forecast on Iran war

> Opec cut its second-quarter 2026 world oil demand forecast by 500,000 bpd to 105.07 million bpd and kept its full-year growth forecast unchanged. The report followed the effective closure of the Strait of Hormuz by the Iran war, which has shut in Middle East production and pushed fuel prices sharply higher. Governments are taking steps to conserve supplies.

- Date: 2018-03-09 · published 2018-03-09T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/65935-opec-lowers-second-quarter-global-oil-demand-forecast-on-iran-war
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A lower demand outlook eases some upward pressure, but the Hormuz disruption keeps crude supply tight and fuel costs high for feed transport and processing. Net direction for energy prices depends on whether supply losses outweigh weaker demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-01 | [How the Iran War Is Disrupting Global Oil and Gas Supply](https://feedsoft.ai/events/20364-how-the-iran-war-is-disrupting-global-oil-and-gas-supply.md) | -12.2% | -1.1% |
| BRENT | 2023-02-01 | [OPEC+ expected to keep oil production levels unchanged amidst global demand recovery](https://feedsoft.ai/events/37690-opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand.md) | -0.8% | -0.5% |
| BRENT | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +24.7% | +51.3% |
| BRENT | 2026-03-01 | [How the attack on Iran could impact the global oil market and economy](https://feedsoft.ai/events/20773-how-the-attack-on-iran-could-impact-the-global-oil-market-and-economy.md) | +31.0% | +62.6% |
| BRENT | 2022-06-02 | [OPEC+ raises output faster as Russia's war roils global energy markets](https://feedsoft.ai/events/40838-opec-raises-output-faster-as-russia-s-war-roils-global-energy-markets.md) | +6.0% | -0.6% |
| WTI | 2026-04-01 | [How the Iran War Is Disrupting Global Oil and Gas Supply](https://feedsoft.ai/events/20364-how-the-iran-war-is-disrupting-global-oil-and-gas-supply.md) | -6.6% | +6.7% |
| WTI | 2023-02-01 | [OPEC+ expected to keep oil production levels unchanged amidst global demand recovery](https://feedsoft.ai/events/37690-opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand.md) | -2.2% | -1.7% |
| WTI | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +33.1% | +46.3% |

## Sources

- tradearabia.com: https://tradearabia.com/News/413972/Opec-lowers-second-quarter-global-oil-demand-forecast-on-Iran-war

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.