OPEC sticks to global oil demand growth forecast for 2025
The group now expects global oil demand to advance on an annual basis by 1.3 million barrels per day (bpd), unchanged from the previous month's estimate, according to its report released today, Aug. 12.
It also raised its forecast for global oil demand growth for next year to 1.4 million bpd, marking an increase of 100,000 bpd compared to the former forecast.
OPEC forecasts OECD demand growth of about 0.2 million bpd year-on-year in 2026.
While the bulk of the demand growth will come from non-OECD countries, at about 1.2 million bpd.
OPEC expects the global economy to add 3% this year and 3.1% in 2026, with the US economy growing by 1.8% and 2.1% this year and next, respectively.
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