OPEC forecasts crude oil demand to increase in 2026

The Organization of the Petroleum Exporting Countries (OPEC) published in its most recent report a forecast of an increase in demand for 2026 of 1.4 million barrels per day.

According to the report, the organization raised its estimate “by 100,000 barrels per day (b/d) compared to the previous forecast, amid improving economic growth prospects in Europe, the Americas, the Middle East, and Africa.”

He also referred to the production of Russia, Saudi Arabia, Algeria, Iraq, Kuwait, the United Arab Emirates, Kazakhstan, and Oman, which are members of OPEC+ and are implementing voluntary cuts, indicating that during the month of July, they “produced 31.701 mb/d, or 371,000 b/d above the agreed-upon amount, according to the organization’s report.”

Regarding the forecast for global demand growth for the remainder of 2025, OPEC maintained its estimate of 1.29 mb/d compared to last year. Last July, the organization “forecast demand of 105.13 mb/d, but now expects it to reach 105.14 mb/d, 10,000 barrels more.”

M.Pino

Source: noticiaslatam

(Reference image source: Raff Liu on Unsplash)

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