OPEC leaves forecasts for global oil demand unchanged in 2025 and 2026

• Expects a ‘sound’ second half for 2025 world economy after it was stronger than expected in H1
• Sees 2026 non-OPEC supply up 730k bpd vs +800k prior
• Sees 2026 US shale output flat
• OPEC+ crude output rose 180K bped in May

Oil is in focus today. WTI rose as high as $77.49 at the open but is all the way back to $71.98, down $1.00 on the day on better signals for peace between Iran and Israel.

This article was written by Adam Button at www.forexlive.com.