BAKU, Azerbaijan, June 17. Global oil demand is expected to grow by 1.3 million barrels per day (mb/d) in 2026, reaching 106.42 mb/d, according to OPEC’s latest outlook, Trend reports.
The projection reflects continued steady demand growth, driven primarily by non-OECD countries and increased consumption of transportation and petrochemical products.
In OECD countries, oil demand is forecast to increase modestly by 100,000 barrels per day, with the Americas leading the growth within the region. Non-OECD countries are expected to contribute the bulk of global demand gains, with a projected increase of 1.2 mb/d. Other Asia is seen as the main driver, followed by India and China.
Demand for transportation fuels will remain a key growth factor in 2026, with both jet fuel/kerosene and gasoline each expected to rise by about 370,000 barrels per day year-on-year. At the same time, LPG/NGLs and naphtha—used widely in the petrochemical sector—are projected to add another 370,000 barrels per day combined, accounting for nearly one-third of the total increase in global oil demand.
