Global oil demand forecasts unchanged for 2025, 2026: OPEC
Baku, July 16, AZERTAC
The Organization of the Petroleum Exporting Countries (OPEC) announced on Tuesday that it will maintain its previous forecasts for global oil demand growth in 2025 and 2026, as well as forecasts for the global economy, Xinhua reports.
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.
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.
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