OPEC affirms positive oil demand forecast

OPEC has maintained its expectations for strong global oil demand growth over the next four years, anticipating that demand will rise to 113.3 million barrels per day by 2030, up from 105.1 million barrels in 2025. Its forecast for 2030 remains unchanged compared to the previous report. This outlook comes despite challenges facing the organization, such as the Iran war and the UAE's withdrawal from membership. OPEC believes that changing government policies in several countries, along with growth in nations like India and the Middle East, are driving increased oil demand, and it continues to expect no peak in demand on the horizon.

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