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Global oil demand recovering — Novak

Global oil demand is projected to rise by 0.6 mln barrels per day (bpd) in 2026 to 105.74 mln barrels per day, OPEC said in its August report

VLADIVOSTOK, September 2. /TASS/. Global oil demand is recovering, as evidenced by the OPEC Secretariat and industry experts, Russian Deputy Prime Minister Alexander Novak told reporters.

"According to estimates by experts and the OPEC Secretariat we have reviewed, oil demand is recovering, we can see it," he said on the sidelines of the Eastern Economic Forum (EEF).

Global oil demand is projected to rise by 0.6 mln barrels per day (bpd) in 2026 to 105.74 mln barrels per day (mbd), OPEC said in its August report. The OPEC Secretary General said earlier that the organization expected global oil demand to recover by 2027.

The Eastern Economic Forum is taking place on September 1-4 in Vladivostok on the campus of the Far Eastern Federal University. The main theme of this year’s EEF is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian government. TASS is its general information partner.