OPEC Chief Accuses Media of “Misrepresenting” 2026 Oil Outlook [Yahoo! Finance]
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Source: Yahoo! Finance
“There was a misrepresentation by some media about our monthly market report,” al Ghais said, “specifically regarding the messages and a narrative that was being created out of reading some of our numbers. For example, things related to the market being in a surplus next year.” Indeed, as Oilprice reported last week, OPEC said in its report that it expected the oil market to be in balance next year. The forecast was a revision of an earlier projection about a deficit, however, which prompted a selloff on oil markets and pushed international benchmarks lower. The group said that oil production from non-OPEC countries would grow faster than expected, adding 1.3 million barrels daily to supply in 2026. Demand, OPEC said, would meanwhile grow at a rate of 1.6 million barrels daily, reaching a total of 106.2 million barrels daily. In his talk with CNBC, Haitham al Ghais remarked that the Monthly Oil Market Report that OPEC produces is “very basic” and that there was “nothing complex
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