The global oil demand may grow by 1.3 mln barrels per day (bpd) in 2025 and the incremental growth is expected to be the same in 2026, the Organization of Petroleum Exporting Countries (OPEC) said in its June report.
The OPEC therefore kept its estimates intact. In absolute terms, the global oil demand may total 105.13 mln bpd in 2025 and 106.42 mln bpd in 2026.
The organization also kept the forecast on an increase of oil supplies from non-OPEC+ countries in this year and the next year. According to the OPEC forecast, oil production will grow in these countries by 0.8 mln bpd to 54 mln bpd in 2025 in average, and by 0.7 mln bpd to 54.7 mln bpd in 2026.
The United States, Brazil, Canada and Argentina will be the main drivers of growth.
