The Organization of the Petroleum Exporting Countries (OPEC) forecast on Tuesday that global oil demand will grow by 200,000 barrels per day (bpd) in 2026, half the growth projected in its September report, according to VOVWORLD. In its latest monthly oil market report, OPEC said demand within the Organization for Economic Co-operation and Development (OECD) is expected to decline by 200,000 bpd in 2026. By contrast, demand in non-OECD countries is projected to rise by approximately 400,000 bpd.
Looking ahead to 2027, OPEC forecasts global oil demand growth of 2.6 million bpd, up from its previous estimate of 2.4 million bpd. The organization attributed the upward revision to a more positive outlook for demand in both OECD and non-OECD countries. The report points to a recovery in 2027 driven by the need to replenish oil inventories.
Source: VOVWORLD (vovworld.vn), citing OPEC's latest monthly oil market report.
Source: vovworld.vn