OPEC Cuts 2026 Oil Demand Forecast for Fifth Straight Month

OPEC lowered its 2026 global oil demand growth forecast to 400Mb/d in its fifth consecutive monthly downward revision, driven by OECD contractions despite non-OECD expansion. In other news, Energy Aspects forecasts a 218Mb/d global fuel oil deficit in 3Q26, its first since 3Q25, as refiners prioritize diesel, gasoline, and jet fuel. 

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OPEC 2026 Demand Growth Forecast Cut to 400Mb/d

OPEC lowered its 2026 global oil demand growth forecast to 400Mb/d in its Monthly Oil Market Report, marking the organization’s fifth consecutive monthly downward revision. The adjustment reflects a 100Mb/d contraction in OECD demand, driven by industrial weakness in Europe and Asia-Pacific, while non-OECD demand is projected to expand by 500Mb/d, led by Latin America, Africa, and other Asian countries. 

US Ethanol Blend Rates Hit Record for Second Consecutive Month

The average ethanol content in gasoline sold across the United States exceeded 11% for a second consecutive month in June, pushing the 12-month average blend rate to a record 10.58%, notes the US Renewable Fuels Association (RFA). This marks the highest sustained blending level recorded in the history of the domestic fuel program

ENGIE to Invest MX$2 Billion in Edomex Gas Network

ENGIE plans to invest more than MX$2 billion (US$116 million) between 2026 and 2030 to expand its natural gas distribution network in the State of Mexico, targeting industrial users and other consumers as energy infrastructure demand grows across the state.

How Fiscal Incentives Can Turn Mexico's Flared Gas Into Revenue

Andres Brugmann, Managing Director, SL Intelligence, considers that converting the 778MMcf/d of natural gas currently flared by PEMEX into usable energy presents an economic opportunity for Mexico. Rather than relying on capital-intensive mandates, adopting targeted fiscal incentives can attract private investment to capture wasted gas without straining public finances. Unlocking this resource would generate new treasury revenue, strengthen national energy security, reduce greenhouse emissions, and create regional jobs.

Global Fuel Oil Deficit Projected for 3Q26

A global fuel oil supply deficit for marine shipping and power generation is projected for 3Q26, as refiners prioritize producing diesel, gasoline, and jet fuel. Energy Aspects forecasts a market shortfall of 218,000b/d during this period, marking the first deficit recorded by the consultancy since 3Q25.