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The Secretary General of OPEC confirmed that global oil demand will continue to grow, with the organization expecting an increase of about 1.2 million barrels per day in 2026, reaching 106.33 million barrels per day. This will further rise by 1.54 million barrels per day in 2027, reaching 107.87 million barrels per day, with an overall projected increase of 5 million barrels per day by 2027 compared to current levels. The statements highlighted that structural factors such as population growth and urban expansion will boost energy demand through to 2050, emphasizing the continued need for investment in oil and gas to meet future demand.
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