OPEC: World oil demand growth at 1.4M bpd in 2026

The global oil demand is still projected to grow by 1.4 million barrels per day (bpd) in 2026, the Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report released on Monday, unchanged from the last month's forecast, AzerNEWS reports.

The demand growth in the OECD region is expected to reach 0.1 million bpd, with the figure slipping slightly compared to the previous month's projection. Meanwhile, the demand in the non-OECD area is set to increase by 1.3 million bpd, with the figure adjusted slightly upward from the projection in March.

In 2027, the global oil demand is expected to climb by 1.3 million bpd, with the OECD region contributing 0.1 million bpd, and 1.2 million bpd coming from non-OECD countries. Demand growth in India is projected to stand at 0.22 million bpd in 2027, followed by China at 0.2 million bpd, and the United States at 0.08 million bpd.