Vienna: The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily global oil demand for 2025-2026, APA-Economics reports, citing OPEC’s monthly report.

According to Azeri-Press News Agency, the forecast indicates that the average daily global oil demand for this year is projected to be 105.13 million barrels, a figure that remains unchanged from the previous estimate. This projection represents an increase of 1.29 million barrels compared to the forecast for 2024.

Furthermore, OPEC has set its sights on the global daily oil demand for the upcoming year, estimating that it will reach 106.42 million barrels in 2026, also unchanged from earlier predictions. This anticipated demand is 1.28 million barrels higher than the forecast for 2025.

The report further highlights that average daily global oil demand last year was 103.84 million barrels, marking an increase of 1.63 million barrels compared to 2023. In 2023, the average daily global oil demand was recorded at 102.21 million barrels, reflecting a rise of 2.55 million barrels from the previous year.