The Organisation of the Petroleum Exporting Countries (OPEC) announced Wednesday that it will maintain its earlier projections for global oil demand growth for the years 2025 and 2026, citing strong trends in mobility and industrial activity.
According to its latest Monthly Oil Market Report, OPEC expects global oil demand to increase by 1.3 million barrels per day (bpd) in each of the two years, consistent with last month’s forecast.
“Total world oil demand is anticipated to average 105 million bpd in 2025, bolstered by strong air travel demand, robust road mobility, and continued activity in the industrial, construction, and agricultural sectors,” the report stated.
The group highlighted that non-OECD countries will play a key role in sustaining demand growth, driven by increasing production capacity and solid petrochemical margins.
While maintaining a generally positive outlook, OPEC slightly revised its global economic growth forecast for 2025 downward by 0.1 percentage point to 2.9 percent. The adjustment, it said, was due to recent tariff-related developments. The projection for 2026 remains unchanged at 3.1 percent.
The steady demand outlook comes amid ongoing discussions around global energy transitions and market stability, with OPEC positioning itself as a central voice in the evolving oil market landscape.
