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OPEC raises oil demand forecast 2027
OPEC has raised its global oil demand growth forecast for 2027 to 2.36 million barrels per day, amid expectations of a stronger recovery in crude consumption in the medium term. Meanwhile, it has lowered its 2026 demand growth estimate to 380,000 barrels per day due to economic pressures and market challenges. Additionally, its outlook for non-OPEC+ oil supply growth remains at 620,000 barrels per day in 2027, with an expected increase in demand for OPEC+ oil to 43.9 million barrels per day. These revisions confirm a stable global economic outlook, with GDP growth remaining at 3% in 2026 and 3.2% in 2027.
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