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OPEC again revises downward global oil demand growth outlook in 2026

The figure is expected to grow by 0.2 mln barrels per day and the demand will stand at 105.72 mln bpd, OPEC said in its October report

MOSCOW, October 13. /TASS/. The Organization of the Petroleum Exporting Countries (OPEC) has revised downward its international oil demand growth forecast for 2026.

The figure is expected to grow by 0.2 mln barrels per day (bpd) and the demand will stand at 105.72 mln bpd, OPEC said in its October report. The organization expected one month earlier that the global demand will grow by 0.4 mln bpd in 2026.

The decline by about 0.2 mln bpd is expected in OECD countries, while non-OECD nations are expected to show growth by 0.4 mln bpd.

OPEC at the same time increased its outlook for 2027. The organization now expects the global oil demand to grow by 2.6 mln bpd annually. The increase by 0.5 mln bpd is projected in OECD countries, and by about 2 mln bpd in non-OECD countries.

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