The OPEC oil cartel lowers its forecast for growth in global oil demand in 2026, but raises its forecast for 2027. This is stated in the October report.
Demand is expected to increase by 0.18 million barrels per day this year, compared with 0.38 million previously. For 2027, the growth forecast is raised to 2.55 million barrels per day from 2.36 million.
Global demand is expected to amount to 105.72 million barrels per day in 2026 and 108.28 million in 2027, compared with previous forecasts of 105.84 and 108.19 million, respectively. Production in DoC countries meanwhile rose by 0.90 million barrels per day in September to 39.07 million.
OPECOctoberSeptember(million barrels per day)Global demand 2026105.72105.84Global demand 2027108.28108.19
