Global Oil Demand Growth Forecast Unchanged

The Organization of the Petroleum Exporting Countries (OPEC) has maintained its world oil demand growth forecast for 2025 at 1.3 million barrels per day (bpd), as stated in its latest monthly report. This projection underscores the organization's confidence in the steady recovery and growth of global oil demand, despite fluctuating economic indicators.

Regional Demand Variations Highlighted

Within the OECD region, a modest increase of 0.1 million bpd is anticipated from 2024 levels, primarily fueled by demand in OECD Americas. Conversely, the non-OECD area is expected to see a significant surge of 1.2 million bpd, with China, India, and other Asian nations leading the charge.

Adjustments for 2026 Outlook

OPEC has slightly adjusted its 2026 global oil demand growth forecast upwards by 0.1 million bpd to 1.4 million bpd. This revision is based on optimistic economic performance expectations in OECD America, OECD Europe, the Middle East, and Africa. The OECD region's demand is projected to grow by 0.2 million bpd, while the non-OECD region is set to add 1.2 million bpd to global demand.