OPEC expects global oil demand to increase by 1.38 million barrels per day in 2026, revising upwards its previous forecast.

OPEC has forecast an increase in world oil demand in 2026 of 1.38 million barrels per day, 100,000 barrels more than previous estimates. At the same time, it lowered forecasts for production growth outside the OPEC+ alliance, anticipating an increase of just 630,000 barrels per day. US shale oil production is forecast to fall, while the OPEC report suggests the global economy is expected to improve in 2025, with a 3% increase. Brent oil prices are holding around 66 dollars a barrel.