BAKU, Azerbaijan, October 13. OPEC has maintained its forecast for global oil demand growth in 2026 at a solid 1.4 million barrels per day (mb/d) year-on-year, bringing total consumption to around 106.52 mb/d, according to the organization’s latest outlook, Trend reports.
The data show that oil demand in OECD countries is projected to increase modestly by 0.15 mb/d to reach 46.12 mb/d in 2026. Within the OECD, the Americas are expected to lead growth, rising by 0.12 mb/d to 25.66 mb/d, followed by the Asia Pacific region, which remains broadly stable. Europe’s demand is set to edge slightly lower by 0.04 mb/d.
In contrast, the non-OECD economies will continue to drive the bulk of global oil demand expansion, with total consumption projected to rise by 1.23 mb/d to 60.40 mb/d in 2026. Growth is expected to be led by “Other Asia,” increasing by 0.37 mb/d, followed by India (+0.22 mb/d) and China (+0.12 mb/d).
By region, demand in the Middle East, Africa, and Latin America will also post modest gains, reflecting steady economic activity and ongoing energy needs.
Overall, OPEC’s outlook underscores a continued recovery and expansion in oil consumption, with non-OECD economies remaining the primary engines of global demand growth through 2026.
