The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily global oil demand for 2025–2026, APA-Economics reports, citing OPEC’s monthly report.
According to the forecast, average daily global oil demand this year is projected to be 105.13 million barrels (unchanged from the previous estimate), which is 1.29 million barrels more than the 2024 forecast.
Additionally, OPEC has released its forecast for global daily oil demand for next year. The organization estimates that the figure will reach 106.42 million barrels in 2026 (also unchanged), which is 1.28 million barrels more than the 2025 forecast.
According to the report, average daily global oil demand last year was 103.84 million barrels, an increase of 1.63 million barrels compared to 2023.
Recall that in 2023, average daily global oil demand was 102.21 million barrels, which is 2.55 million barrels more than the previous year.
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