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CryptoWorld News reports that OPEC's latest monthly report shows the organization has lowered its forecast for global oil demand growth in 2026 to 970k barrels per day on Thursday, marking its second consecutive downward revision. Since the outbreak of the Iran conflict, the production group believes that the impact of the conflict on consumption has remained smaller than predictions from other agencies such as the U.S. Energy Information Administration and the International Energy Agency. Both agencies expect demand to decline in 2026. Additionally, the report notes that OPEC has raised its forecast for the growth rate of oil demand in 2027.