Vienna: The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily global oil demand for the years 2025 and 2026. According to APA-Economics, citing OPEC’s monthly report, the forecast for this year remains unchanged at 105.14 million barrels per day, which marks an increase of 1.3 million barrels compared to the forecast for 2024.
According to Azeri-Press News Agency, OPEC has also released its forecast for daily global oil demand for the next year. The organization projects a demand of 106.52 million barrels per day, which remains unchanged from previous estimates and represents an increase of 1.38 million barrels compared to the forecast for 2025.
The report highlights that last year’s daily global oil demand was recorded at 103.84 million barrels, signifying an increase of 1.63 million barrels over the figure for 2023. It is noted that in 2023, global daily oil demand stood at 102.21 million barrels, which was 2.55 million barrels more than the previous year.