OPEC remains upbeat and bullish on global oil demand growth for this year and next as it continues to unwind its crude production cuts.
The cartel kept unchanged its 2025 and 2026 oil demand growth forecasts in its closely-watched Monthly Oil Market Report (MOMR) for October published on Monday.
In the report, OPEC expects global oil demand to grow by about 1.3 million barrels per day (bpd) this year from 2024, and reach on average 105.1 million bpd, reflecting continued robust economic growth. The view, unchanged from last month’s report, is driven by expectations of 1.2 million bpd demand growth in China, India, and other Asian markets.
Click here to read the full article
Source: Oil Price
—
Do you have any questions or thoughts about the topic of how OPEC remains upbeat? Feel free to contact us here or leave a comment below.
