LONDON (Feb 11): Opec on Wednesday forecast world oil demand from the Opec+ group will drop by 400,000 barrels per day in the second quarter, and published data indicating a small surplus in that quarter ahead of a key decision on whether to resume output increases. World demand for Opec+ crude will average 42.20 million bpd in the second quarter, Opec said in its monthly oil market report on its website, down from 42.60 million bpd in the first quarter. Opec said world oil demand was gaining support from air travel and road transport, as well as from a drop in the value of the US dollar against a basket of currencies. Weaker dollar helps"This decline has made dollar-priced commodities, including oil, cheaper for consumers and provided some additional support for global demand," Opec said in the report. Opec left unchanged its forecasts that world oil demand will rise by 1.34 million bpd in 2027 and by 1.38 million bpd this year.

Source: The Edge Markets February 11, 2026 13:20 UTC