---
title: "Oil rises despite weaker demand outlook as Fluor profits fall"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286303651.md"
description: "Oil prices have increased, with Brent crude reaching $110.87 per barrel, despite OPEC's reduced demand growth forecast for 2026. Supply issues persist due to the closure of the Strait of Hormuz, which is impacting global oil stocks. Meanwhile, Fluor reported a significant drop in Q1 adjusted EPS, falling to $0.14 from $0.73 the previous year, affected by project charges and legal challenges."
datetime: "2026-05-13T18:45:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286303651.md)
  - [en](https://longbridge.com/en/news/286303651.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286303651.md)
---

# Oil rises despite weaker demand outlook as Fluor profits fall

Oil edges higher: Brent crude rose to $110.87 a barrel despite OPEC trimming its 2026 demand growth forecast to 1.2 million bpd. Supply strains persist: The Strait of Hormuz remains shut, depleting global oil stocks and keeping prices elevated despite weaker consumption trends. Fluor earnings hit: Fluor's Q1 adjusted EPS plunged to $0.14 from $0.73 a year earlier, weighed by project charges and legal rulings.

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