OPEC reduces forecast for global oil demand

OPEC has revised its forecast for global oil demand growth in 2025, reducing it by 150,000 barrels per day, Report informs, citing OPEC.

According to OPEC's April report, the organization now expects demand to grow by 1.3 million barrels per day, reaching a total of 105.05 million barrels per day.

Last year’s oil demand figure remains unchanged at 103.75 million barrels per day. In March, OPEC had projected global oil demand to increase by 1.45 million barrels per day, but the forecast was adjusted after reviewing first-quarter data and considering the impact of US tariffs.

Looking ahead to 2026, OPEC predicts a further increase in global oil demand by 1.28 million barrels per day, reaching a total of 106.33 million barrels per day.