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OPEC maintains forecast for oil demand growth in 2025-2026

In 2026, OPEC expects oil demand to grow by 1.4 million bpd, to 106.52 million bpd

MOSCOW, September 11. /TASS/. Global oil demand in 2025 may grow by 1.3 million barrels per day (bpd) to 105.14 million bpd, according to the September report of the Organization of the Petroleum Exporting Countries (OPEC).

In 2026, OPEC expects oil demand to grow by 1.4 million bpd, to 106.52 million bpd. Thus, the organization maintained its forecast for demand growth for this year and next.

According to the report, China, India and other Asian countries will account for 1.2 million bpd of demand growth annually.

OPEC+ oil demand in 2025 will be 42.5 million bpd, as OPEC forecasted a month ago. This is 0.4 million bpd more than in 2024.

The OPEC+ oil demand forecast for next year has also been retained at 43.1 million bpd, which is 0.6 million bpd more than expected for this year.

OPEC also did not change its expectations for oil supply growth from non-OPEC+ countries in 2025-2026 compared to last month. According to the organization's forecast, liquid hydrocarbon production in countries outside OPEC+ will grow by 0.8 million bpd to 54 million bpd in 2025 and by 0.6 million bpd, to 54.6 million bpd in 2026.

The main drivers of oil supply growth among non-OPEC+ countries in the next two years will be the United States, Canada, Brazil and Argentina, OPEC believes.

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