OPEC maintains forecast for global oil demand growth in 2025-2026

Global oil demand in 2025 may grow by 1.3 million barrels per day (bpd), with the same growth expected in 2026, according to the May OPEC update, Report informs.

Thus, the demand growth estimate remained unchanged compared to the previous forecast. In absolute terms, global oil demand in 2025 may amount to 105 million bpd, in 2026 - 106.28 million bpd.

At the same time, OPEC lowered its forecast for an increase in oil supply from non-OPEC+ countries in 2025 and 2026 by 0.1 million bpd, to 0.8 million bpd.

In absolute terms, in 2025, the figure, according to the organization, will be 54 million bpd, in 2026 - 54.81 million bpd.