OPEC raises global oil demand forecast for 2026

The Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand growth in 2026 in its monthly oil market report released on the 12th, while maintaining its 2025 forecast unchanged.
The report said that global daily oil demand in 2026 will increase by about 1.38 million barrels compared to 2025, reaching 106.5 million barrels; In 2025, global daily oil demand is expected to increase by 1.29 million barrels compared to last year, reaching 105.1 million barrels.
In July, OPEC had forecast that global daily oil demand in 2026 would increase by 1.28 million barrels compared to 2025. The report explained that the upward revision in this forecast is primarily due to improved economic growth expectations in certain regions of the Organization for Economic Cooperation and Development (OECD) as well as in the Middle East and Africa regions.