The Organization of the Petroleum Exporting Countries (OPEC) forecasts global oil demand to rise by 1.3 million barrels per day (mb/d) in 2026. Total growth is expected to come from both OECD and non-OECD countries,

Unwinding of OPEC+ production cuts coupled with non-OPEC+ output growth and bearish macro sentiment expected to hit crude consumption

Global oil demand will rise more slowly for the remainder of 2025 due to economic headwinds combined with record sales of electric vehicles, the International Energy Agency (IEA) said on Thursday, as rising supply from planned OPEC+ output hikes keeps the market in surplus.