OPEC upgrades 2026 global oil demand outlook
Global oil demand is expected to grow by 1.4 million barrels per day in 2026, up 100,000 barrels from the previous forecast, Kazinform News Agency reports.
According to OPEC’s monthly oil market report, the 2026 forecast was revised upward in light of anticipated stronger economic performance in OECD member countries in the Americas and Europe, as well as in the Middle East and Africa.
The most significant adjustment concerns the United States, where shale oil production is projected to decline by 100,000 barrels per day next year, contrasting with earlier estimates of stable output.
The forecast for this year remains unchanged.
OPEC projects that in 2025, global oil demand will increase by 1.3 million barrels per day year-on-year, in line with last month’s assessment.
As reported earlier, eight OPEC+ countries have agreed to boost oil production in September.
