The oil organization (OPEC) released its monthly report, lowering the global oil demand growth forecast for this year for the fifth consecutive month, with the largest downward adjustment among the five revisions.

The report predicts that this year, Global oil demand will increase by 1.61 million barrels per day, which is a downward adjustment of 0.21 million barrels per day compared to last month's forecast, and a downward adjustment of 0.64 million barrels per day compared to July's forecast. The demand growth forecast for next year has also been adjusted down from 1.54 million barrels per day to 1.45 million barrels per day.

The report indicates that the adjustments are based on the latest third quarter data, and it points out that Petrochina, India, Other Asian countries, the Middle East, and Africa are the reasons for this downward revision, among which this year's Petrochina demand growth forecast has been adjusted to 0.43 million barrels per day, lower than the July estimate of 0.76 million barrels per day.