OPEC Expects Oil Demand to Reach 106.52 Million Barrels Per Day This Year
The Organization of the Petroleum Exporting Countries (OPEC) issued its monthly report today, Wednesday, projecting that crude oil demand will reach 106.52 million barrels per day (bpd) during the current year.
The report included an update on global oil demand growth forecasts for 2026, which remained unchanged at 1.4 million bpd on an annual basis, showing no change compared to last month’s estimates (December 2025).
According to the charts attached to the report, OPEC expects global oil demand to rise by 1.38 million bpd in 2026 to reach 106.52 million bpd. The organization’s estimates suggest that demand in 2025 reached 105.14 million bpd.
The organization also projected that crude demand growth next year will be 1.34 million bpd, reaching a total of 107.86 million bpd.
OPEC maintained its estimates regarding oil production growth from non-OPEC+ countries in 2026, with average production still expected to reach 54.78 million bpd.
In a related context, OPEC projected that oil production outside of OPEC+ will rise in 2027 by 0.61 million bpd. According to the organization’s forecasts, the main drivers of this annual growth will primarily be Brazil, Canada, Qatar, and Argentina.
Source: Novosti
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