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OPEC Raises 2026 Oil Demand Forecast to 105.4 Million Barrels per Day
OPEC lifted its 2026 oil-demand forecast to 105.4 million bpd, attributing gains to Asia’s industrial rebound and slower global energy transition.
The Organization of the Petroleum Exporting Countries (OPEC) increased its 2026 global oil-demand outlook by 2.5 million barrels per day to 105.4 million bpd, citing industrial recovery in Asia and expanding petrochemical consumption. The revision follows stronger-than-expected manufacturing output in India and China.
OPEC said it will continue coordination with non-OPEC producers to balance supply as renewable transition timelines extend. Brent crude hovered near $82 a barrel after the announcement. Analysts expect moderate price support through 2026 if global GDP growth stabilizes above 3 percent.