OPEC sees global oil market balanced in 2026

12/11/2025 Argaam
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Logo of OPEC

OPEC expects global oil supply to keep pace with demand in 2025, reflecting production increases by the OPEC+ group, while global economic growth remains robust.

 

The organization said in a report released today, Nov. 12, that global oil demand is likely to rise by 1.3 million barrels per day (bpd) this year, unchanged from previous estimates.

 

OPEC also maintained its forecast for global oil demand growth in 2026 at 1.4 million bpd.

 

The report indicated that OPEC+ production in October fell by 73,000 bpd to 43.03 million bpd, led by a decline in production in Kazakhstan, despite the alliance’s agreement to raise output.

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