SEO Riders:
– OPEC 2025 oil demand forecast
– OPEC global oil outlook 2026
– Non-OPEC+ supply revision 2026
In its June report, OPEC affirmed its global oil demand growth forecasts at approximately +1.3 million barrels per day (bpd) for both 2025 (to \~105.13 mb/d) and 2026 (to \~106.42 mb/d), unchanged from last month’s outlook. The organization noted that strong Q1 demand in OECD countries offset weaker-than-expected demand in non-OECD regions like China and India, partly due to new U.S. trade policies .
Despite trimming its supply-growth outlook for non‑OPEC+ producers in 2026—from +800,000 bpd to +730,000 bpd—OPEC anticipates solid global economic momentum will help maintain market balance. This aligns with OPEC’s assertion that global demand remains resilient and no peak is expected in the near term.
