Oil Demand Growth Remains Stable According to OPEC Outlook
Oil demand growth is set to remain on a stable trajectory over the current and coming year, according to OPEC’s latest monthly report, reflecting a relatively balanced global oil market.
The organization maintained its forecast that oil demand growth will reach 1.3 million barrels per day in 2025, supported by rising consumption in emerging economies, particularly across Asia, the Middle East, and Latin America.
It also expects oil demand growth to continue at a similar pace in 2026, pushing global consumption to new record levels amid improving economic activity and steady industrial and transport demand.
Global Demand Outlook
Estimates suggest global oil demand will exceed 105 million barrels per day in 2025 and rise beyond 106 million barrels per day in 2026, with China and India remaining key drivers of consumption growth.
Supply Dynamics Outside OPEC+
On the supply side, OPEC raised its forecast for non-OPEC+ production growth in 2025, led by the United States, Brazil, Canada, and Argentina, highlighting ongoing market balance between supply and demand.
