The Organization of the Petroleum Exporting Countries (OPEC) has reduced its forecast for average daily global oil demand for 2025–2026, APA-Economics reports citing the OPEC’s monthly report.
According to the forecast, the mentioned figure is expected to be 105.05 million barrels this year (previous forecast – 105.2 million barrels), which is 1.3 million barrels more compared to the forecasted figure for 2024.
In addition, OPEC has announced its forecast for daily global oil demand for the next year. The organization estimates that the figure will be at the level of 106.33 million barrels (previous forecast – 106.63 million barrels), which is 1.29 million barrels more compared to the forecasted figure for 2025.
According to the report, last year daily global oil demand stood at 103.75 million barrels, which means an increase of 1.54 million barrels compared to the 2023 figure.
Recall that in 2023, global daily oil demand was at the level of 102.21 million barrels, which is 2.55 million barrels more in annual comparison.
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