OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts

London, 12 Feb (ONA) --- The Organization of the Petroleum Exporting Countries (OPEC) today stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth.

OPEC, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026. Both forecasts were unchanged from last month.

OPEC's view on oil demand is at the higher end of industry forecasts and it expects oil use to keep rising in coming years, unlike the International Energy Agency which see demand peaking this decade as the world switches to cleaner fuels.

In the report, OPEC said the trade policy of President Donald Trump's new US administration has added more uncertainty into markets, potentially creating supply-demand imbalances that are not reflective of market fundamentals, but it made no change to its 2025 economic growth forecast.

--- Ends/Khalid