OPEC Boosts 2027 Oil Demand Forecast as Economic Pressures Ease

OPEC has raised its forecast for global oil demand growth in 2027 to 2.36 million barrels per day, indicating expectations of a stronger rebound in crude consumption.

In contrast, the organization reduced its estimates for global oil demand growth in 2026 to 380,000 barrels per day, reflecting ongoing economic pressures and their effects on energy consumption.

OPEC maintained its forecasts for oil supply from countries outside the OPEC+ alliance at 620,000 barrels per day for 2027.