The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that it is maintaining its previous forecasts for global oil demand growth in 2025
and 2026.
In its February monthly oil market report, OPEC projects a "healthy" increase in global oil demand, estimating growth of 1.45 million barrels per day (bpd) in 2025, followed by a rise of 1.43 million bpd in 2026, figures unchanged from last month's assessment.
"Growth this year is expected to be driven by transportation fuels on the back of strong air travel demand
and healthy road mobility. Support is also expected to come from the industrial, construction
and agricultural sectors in non-OECD (the Organization for Economic Co-operation
and Development) countries," OPEC said.
The organization also left its global economic growth projections for 2025
and 2026 unchanged, forecasting a 3.1 percent expansion this year
and 3.2 percent in the following year.
Editor:Leo
