OPEC has reduced its forecast for global oil demand growth by 200,000 barrels compared to the July figure, based on the results of 2026.
Modern.az reports that, according to the organization's monthly report, global oil demand growth is expected to be 580,000 barrels per day this year. Total demand is projected to reach 105.7 million barrels per day.
According to the report, oil production is expected to increase by 640,000 barrels per day in 2026. Total production is stated to be 54.8 million barrels per day.
In 2027, oil demand growth is projected to reach 2.16 million barrels per day. In this case, total demand will be 107.9 million barrels per day.
OPEC expects oil production to increase by 620,000 barrels per day next year. Total production is noted to be 55.45 million barrels per day.
