According to OPEC's latest monthly oil market report, demand within the Organization for Economic Co-operation and Development (OECD) is expected to decline by 200,000 bpd in 2026. In contrast, demand in non-OECD countries is projected to rise by approximately 400,000 bpd.
For 2027, OPEC forecasts global oil demand growth of 2.6 million bpd, up from its previous estimate of 2.4 million bpd.
The upward revision reflects a more positive outlook for demand in both OECD and non-OECD countries. The report points to a recovery in 2027 driven by the need to replenish oil inventories.
