OPEC kept its near-term view for robust global oil demand growth and slightly
raised its long-term outlook, saying there is no sign demand has peaked. In its
World Oil Outlook 2026, OPEC projects demand of 105.1 mln b/d in 2025 rising to
113.3 mln b/d by 2030 (2025 and 2030 forecasts broadly unchanged versus last
year) and lifted its 2050 projection to 124.0 mln b/d from last year’s 122.9 mln
b/d. OPEC attributed the upward bias to policy shifts toward energy security and
affordability in the US, Europe and elsewhere, and to long-term demand growth in
India, the Middle East, Africa and Latin America.