Revised Oil Demand Growth Forecast

The Organization of the Petroleum Exporting Countries (OPEC) has updated its global oil demand growth forecast for 2025 to 1.3 million barrels per day (bpd), a slight decrease from last month's projection of 1.4 million bpd. This adjustment reflects recent data from the first quarter and the impact of new tariffs imposed by the United States.

Regional Demand Variations

OECD Countries: Expected to contribute an additional 0.04 million bpd, down from the previous estimate of 0.1 million bpd.

Non-OECD States: Anticipated to see a growth of 90,000 bpd, a significant reduction from the 1.3 million bpd forecasted last month.

Looking Ahead to 2026

The global oil demand growth for 2026 is now projected at 1.3 million bpd, marking a decrease from the earlier forecast of 1.4 million bpd. Within this, OECD countries are expected to increase their demand by 0.08 million bpd, while non-OECD countries are forecasted to grow by 1.2 million bpd, down from their respective previous estimates.