OPEC cut its 2025 global oil demand growth forecast on Monday, citing the impact of data received for the first quarter and trade tariffs announced by the U.S., and also reduced its global economic growth forecasts for this year and next. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.30 million barrels per day (bpd) in 2025, down 150,000 bpd from last month's forecast. OPEC also lowered its forecasts for world economic growth this year and next.