Vienna: The Organization of the Petroleum Exporting Countries (OPEC) has released its updated forecast for global oil demand for the years 2025-2026. The organization’s latest assessment provides insights into the expected average daily global oil consumption for these years.
According to Azeri-Press News Agency, OPEC’s monthly report states that the average daily global oil demand for this year is projected to remain at 105.14 million barrels. This figure represents an increase of 1.29 million barrels compared to the 2024 forecast. Furthermore, OPEC has announced its expectations for the next year, estimating that daily global oil demand will reach 106.52 million barrels, slightly adjusted from the previous forecast of 106.42 million barrels. This projection is 1.38 million barrels higher than the 2025 forecast.
The report also highlights that last year’s daily global oil demand stood at 103.84 million barrels, which marks an increase of 1.63 million barrels compared to the 2023 figure. In 2023, the global daily oil demand was recorded at 102.21 million barrels, representing an annual increase of 2.55 million barrels.