OPEC Keeps Global Oil Demand Forecasts Unchanged for 2025, 2026

The Organization of the Petroleum Exporting Countries (OPEC) announced on Tuesday that it will uphold its previous forecasts for global oil demand growth in 2025 and 2026, along with its projections for the global economy.

In its monthly oil market report, OPEC estimated a rise of 1.3 million barrels per day (bpd) year on year in both years, unchanged from last month's prediction, The Caspian Post reports citing Xinhua.

OPEC also said that oil demand from the Organization for Economic Co-operation and Development (OECD) is forecast to grow by about 100,000 bpd in 2025, while non-OECD demand is forecast to grow by about 1.2 million bpd in 2025,

"In terms of products, world oil demand in 2025 is expected to continue to be driven by requirements for transportation fuels," OPEC said in the report.

Regarding its forecast for the world economic growth, OPEC said the global economy maintained its stable growth trajectory, supported by the healthy growth seen in the first half of 2025.

It predicted that the global economy will continue to rise by 2.9 percent for 2025 and 3.1 percent for 2026, unchanged from last month's report.