{"id":2613403,"date":"2026-06-11T12:34:02","date_gmt":"2026-06-11T16:34:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/opec-cuts-oil-demand-forecast-again-as-strait-of-hormuz-closure-continues\/"},"modified":"2026-06-11T12:34:02","modified_gmt":"2026-06-11T16:34:02","slug":"opec-cuts-oil-demand-forecast-again-as-strait-of-hormuz-closure-continues","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/opec-cuts-oil-demand-forecast-again-as-strait-of-hormuz-closure-continues\/","title":{"rendered":"OPEC cuts oil demand forecast again as Strait of Hormuz closure continues"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fopec-cuts-oil-demand-forecast-again-as-strait-of-hormuz-closure-continues%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2613403&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\">The Organization of the Petroleum Exporting Countries cut the expected global <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/oil\/\" type=\"post_tag\" id=\"292\">oil<\/a> demand for 2026 again on Thursday.<\/p>\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/opec\/\" type=\"post_tag\" id=\"1305\">OPEC\u2019s<\/a> June report showed a slightly downward trend in forecasted oil demand worldwide for the rest of the year, releasing the report during a heightened week of tensions in the war between the United States, Israel, and Iran. Much of the recent concern has centered on the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/strait-of-hormuz\/\" type=\"post_tag\" id=\"21488\">Strait of Hormuz<\/a>, as Iran announced a full closure of the crucial oil-shipping waterway on Wednesday evening.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/business\/4602591\/usps-stop-mail-in-ballot-voter-roll\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>USPS to stop delivering mail-in ballots in states that don\u2019t hand over their voter rolls<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/business\/4601726\/kalshi-customer-employment-information-bets\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Kalshi to begin collecting customer employment information in some markets<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/business\/4600970\/pentagon-labels-china-byd-electric-car-maker-state-actor\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Pentagon labels Chinese electric car maker BYD as state actor, making US contracts unlikely<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">The <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/momr.opec.org\/pdf-download\/\">OPEC report<\/a> for June forecasted that world oil demand would increase by about 970,000 barrels per day in 2026, <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy\/4566346\/opec-countries-cut-output-demand-slow-hormuz-blockade\/\">down from May\u2019s growth estimate<\/a> of what the group called a \u201chealthy\u201d 1.17 million barrels per day. The report called the month-to-month change a \u201cminor downward adjustment.\u201d But May\u2019s report had also been a downward trend from the month prior, falling from 1.38 million barrels per day in April to 1.17 million barrels per day in May.<\/p>\n<div class=\"wex-ad-wrap\" style=\"min-height:5px;\"><span class=\"wex-ad-label\" style=\"display:none;\">Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-15\" data-wex-ad=\"art-dsk-inart-1\"><\/div>\n<\/div>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\">OPEC, however, forecasts that global oil demand next year will \u201crebound and grow\u201d at a rate of 1.73 million barrels per day. This estimate is more positive than the May estimate of 1.54 million barrels per day.<\/p>\n<p class=\"wp-block-paragraph\">Iran\u2019s crude oil production also fell by 546,000 barrels from April to May, the only OPEC nation to record a drop in crude oil production, according to the report. The nation went from producing 2.875 million barrels in April to 2.330 million barrels a day in May. The drop in production aligned with the Trump administration\u2019s blockade of the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/strait-of-hormuz\/\" type=\"post_tag\" id=\"21488\">Strait of Hormuz<\/a>.<\/p>\n<p class=\"wp-block-paragraph\">In contrast, President Donald Trump said on Wednesday the U.S. has successfully moved \u201cmore than <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4603115\/trump-us-100-million-barrels-oil-strait-hormuz\/\">100 MILLION Barrels of Oil<\/a>\u201d through the strait and to the energy markets. Energy Secretary <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/chris-wright\/\" type=\"post_tag\" id=\"11768\">Chris Wright<\/a> said the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4603022\/chris-wright-100-ships-jones-act-waiver-oil\/\">Jones Act waiver helped<\/a> in this effort.<\/p>\n<div class=\"wex-ad-wrap\" style=\"min-height:5px;\"><span class=\"wex-ad-label\" style=\"display:none;\">Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-16\" data-wex-ad=\"art-dsk-inart-2\"><\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">\u201cThis wildly successful effort is because the UNITED STATES of AMERICA CONTROLS the Strait of Hormuz \u2014 NOT Iran,\u201d Trump <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4603115\/trump-us-100-million-barrels-oil-strait-hormuz\/\">wrote on Truth Social<\/a> on Wednesday. \u201cTheir military is defeated, and their economy is lost.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The U.S. fired a round of strikes against Iran on Wednesday evening in response to the regime downing an Apache helicopter in the Strait of Hormuz. In response to the U.S. strikes, the Iranian regime resumed its chokehold on ships crossing the strait, throwing the energy industry into turmoil.<\/p>\n<p class=\"wp-block-paragraph\"><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4603223\/producer-prices-inflation-may-iran\/\">PAIN AHEAD: INFLATION SPIKED TO 6.5% IN MAY IN PRODUCER INDEX, HIGHEST SINCE 2022<\/a><\/strong><\/p>\n<div class=\"wex-ad-wrap\" style=\"min-height:5px;\"><span class=\"wex-ad-label\" style=\"display:none;\">Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-17\" data-wex-ad=\"art-dsk-inart-3\"><\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Trump said he would <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/world\/4604185\/trump-promises-another-round-strikes-iran-operation-kharg-island\/\">strike Iran again on Thursday<\/a> evening and announced he would soon move to seize Kharg Island. <\/p>\n<p class=\"wp-block-paragraph\">\u201cThe United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT,\u201d Trump <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/world\/4604185\/trump-promises-another-round-strikes-iran-operation-kharg-island\/\">wrote<\/a> on Truth Social Thursday morning.<\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Organization of the Petroleum Exporting Countries cut the expected global oil demand for 2026 again on Thursday. OPEC\u2019s June report showed a slightly downward trend in forecasted oil demand worldwide for the rest of the year, releasing the report during a heightened week of tensions in the war between the United States, Israel, and<\/p>\n","protected":false},"author":3976,"featured_media":2613404,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/06\/Iran-Hormuz-blockade.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2613403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/06\/Iran-Hormuz-blockade.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2613403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3976"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2613403"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2613403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2613404"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2613403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2613403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2613403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}