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OPEC Maintains 2026 Oil Demand Forecast Amid Rising Asian Consumption
OPEC retained its 2026 oil demand forecast at 105.4M bpd, driven by strong Asian industrial growth and balanced global supply dynamics.
The Organization of Petroleum Exporting Countries (OPEC) maintained its 2026 global oil demand forecast at 105.4 million barrels per day, citing robust industrial and transport demand from India and China. The report projects over 70 percent of incremental consumption will come from Asia. Crude prices remained steady near $83 per barrel as supply adjustments offset Middle East production increases.
Analysts said sustained Asian expansion may tighten the market by late 2026 unless non-OPEC producers ramp output faster than anticipated.