VIENNA, Oct. 13 (Xinhua) -- Global oil demand is forecast to grow by 200,000 barrels per day (bpd) in 2026 year-on-year, down from the September assessment, said the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.
The figure was published by OPEC in its latest monthly oil market report. The demand of OECD (the Organization for Economic Cooperation and Development) countries is forecast to ease by about 200,000 bpd year-on-year in 2026, while the non-OECD is forecast to grow by about 400,000 bpd.
In the previous report in September, the organization estimated a global oil demand growth of 400,000 bpd year-on-year for 2026.
Despite the lower forecast for 2026, the report continued to revise up its forecast for 2027, with global oil demand expected to rise by about 2.6 million bpd year-on-year, compared with the previous estimate of 2.4 million bpd year-on-year.
According to Tuesday's report, the upward revision is driven by increased demand expectations for both OECD and non-OECD countries.
"Oil demand in 2026 will indeed soften as currently expected and will be further bolstered next year by the need to replenish oil inventories at large," said the report. ■
