The Organization of the Petroleum Exporting Countries (OPEC) has kept its forecast for global oil demand growth in 2026 unchanged.
OPEC’s forecast indicates that global oil demand will increase by 0.2 million bpd, bringing total demand to 105.72 million bpd.
Demand within the Organisation for Economic Co-operation and Development (OECD) member countries is expected to decline by approximately 0.2 million bpd, while demand in the rest of the world is projected to grow by 0.4 million bpd.
Earlier this year, OPEC revised its forecast for global oil demand growth for the current year downward on six separate occasions.
The organization also maintained its previous forecast for the coming years. By 2027, global oil demand is expected to have increased by approximately 2.6 million bpd on an annual basis.
