OPEC sticks to oil demand growth forecasts

11/09/2025 Argaam
OPEC keeps oil demand view unchanged as it continues to boost output

OPEC keeps oil demand view unchanged as it continues to boost output

OPEC made no changes on Thursday to its relatively high global oil demand growth forecasts for this year and next and said the world economy was maintaining a solid growth trend in the second half of 2025.

 

In its monthly report released Thursday, the organization forecast oil demand growth of 1.3 million barrels per day (bpd) this year, and approximately 1.4 million barrels in 2026.

 

The upbeat OPEC outlook, in a monthly report, follows the decision of the wider OPEC+ producer group on Sunday to further raise its oil output quotas from October as its leader Saudi Arabia pushes to regain market share.

 

The report showed that OPEC+ increased its crude oil production by 509,000 bpd in August, reflecting its previous decisions to increase production quotas.

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