U.S. shale producers are cutting rigs, slashing budgets, and pulling back hard as cheap oil from OPEC pushes prices deep below profitable levels. The assault,

OPEC on Tuesday raised its global oil demand forecast for next year and trimmed its estimate for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market.

Global oil demand is set to grow by 1.38 million barrels per day (bpd) in 2026, OPEC said on Tuesday as it raised its forecast for next year by 100,000 bpd on the back of expected stronger economies in key oil-consuming regions.