Baku: The Organization of the Petroleum Exporting Countries (OPEC) has released its forecast for average daily global oil demand for 2026 and 2027, OPEC's monthly report said, APA-Economics reports.

According to Azeri-Press News Agency, average daily global oil demand is expected to reach 107.86 million barrels in 2027, slightly adjusted from the previous forecast of 107.87 million barrels. This projection represents an increase of 1.73 million barrels compared to the forecast for 2026.

The report also outlines that the average daily global oil demand for 2026 is projected to reach 106.13 million barrels, a slight decrease from the previous forecast of 106.33 million barrels. This figure is 0.97 million barrels higher than the level projected for 2025, which stood at 105.16 million barrels.

It should be recalled that average daily global oil demand stood at 103.84 million barrels in 2024. The forecast underscores a steady increase in global oil demand over the coming years.