The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that it will maintain its previous forecasts for global oil demand growth in 2025 and 2026, signaling confidence in a steady recovery in consumption.
In its latest Monthly Oil Market Report, OPEC projected a consistent year-on-year increase of 1.3 million barrels per day (bpd) for both years, unchanged from its earlier estimates.
“Total world oil demand is anticipated to average 105 million bpd in 2025,” the report stated, citing strong air travel demand, increased road transportation, and sustained industrial, construction, and agricultural activity as key drivers.
OPEC highlighted that growth in demand will be further supported by expanded refining capacity and favorable petrochemical margins in non-OECD countries.
Despite generally stable global economic indicators, OPEC slightly revised its 2025 global economic growth forecast downward by 0.1 percentage point to 2.9%, attributing the adjustment to ongoing tariff-related uncertainties. The outlook for 2026 remains unchanged, with global growth projected at 3.1%.
 announced on Wednesday that it will maintain its previous....){kind=link}