OPEC sees 2026 world oil demand keeping pace with their forecast for this year

• 2024 world oil demand expected to have risen by 1.5 mil bpd (previous forecast 1.61 mil bpd)
• 2025 world oil demand growth forecast for 1.45 mil bpd
• 2026 world oil demand growth forecast for 1.43 mil bpd

The 2026 forecast is the first one they are sharing as we are now into January 2025. And the forecast coming right out the gate is a rather robust one. It is best to be reminded that OPEC has been revising estimates for 2025 lower in recent months, as they have been arguably the most optimistic player in the market last year – unsurprisingly so. As such, do expect the 2026 forecast to also be watered down especially if the Chinese economy continues to hit a snag this year.

This article was written by Justin Low at www.forexlive.com.