IEA: Global oil demand to rise by 863,000 barrels per day in 2026

Global oil demand is expected to increase by 835,000 barrels per day in 2025, Report informs, referring to the International Energy Agency (IEA).

The agency had previously forecast in November that demand would grow by 788,000 barrels per day. Thus, the projection for this year has been revised upward by 47,000 barrels per day.

The IEA further noted that in 2026, demand is expected to rise by 863,000 barrels per day, which is 93,000 barrels higher than its earlier forecast of 770,000 barrels per day.

According to the agency, global oil demand will reach 103.923 million barrels per day in 2025 and 104.785 million barrels per day in 2026.