OPEC's Unchanged Oil Demand Growth Forecast for 2025

In its latest March report, the Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for global oil demand growth in 2025 at 1.4 million barrels per day (bpd). This projection aligns with its previous estimates, signaling confidence in the stability of oil demand growth despite fluctuating global economic conditions.

Regional Demand Insights

OECD countries are anticipated to contribute an additional 0.1 million bpd to the global demand, whereas non-OECD states are expected to see a significant rise of 1.3 million bpd. The total world oil demand has been slightly adjusted upwards to 105.2 million bpd, driven by robust air travel demand, healthy road mobility, and vigorous industrial, construction, and agricultural activities in non-OECD countries.

Looking Ahead to 2026

For the year 2026, the global oil demand is projected to increase by another 1.4 million bpd, reaching a total of 106.6 million bpd. This forecast remains unchanged from the February report, with OECD countries expected to add 0.1 million bpd and non-OECD countries around 1.3 million bpd to the demand.