The decision was revealed in OPEC’s latest Monthly Oil Market Report released on Monday, which indicated that there would be no revision to the previous month’s estimates despite minor adjustments to actual figures for the first quarter of 2025.
According to the report, demand in member countries of the OECD is expected to rise by 0.2 million bpd in 2025, while countries outside the OECD are projected to account for over 1.1 million bpd of the growth.
The same trend is expected to persist into 2026, with non-OECD nations driving demand.
“Global oil demand growth forecast for 2025 remains at 1.3 mb/d year-on-year, unchanged from last month’s assessment,” the report stated. “In 2026, growth is forecast to continue at the same rate, with OECD demand rising by 0.1 mb/d and non-OECD by 1.2 mb/d.”
