OPEC MOMR: 2025 & 2026 global oil demand forecasts maintained at 1.3mln BPD, 2025 supply forecasts held at 0.8mln BPD

Demand

• The global oil demand growth forecast for 2025 remains at 1.3mln BPD Y/Y, unchanged from last month’s assessment.


• Some minor adjustments were made mainly to actual data for 1Q25. 


• In the OECD, oil demand is forecast to grow by about 0.2mln BPD Y/Y in 2025, while non-OECD demand is forecast to grow by more than 1.1mln BPD in 2025. 


• In 2026, global oil demand is forecast to grow by 1.3mln BPD, also unchanged from last month’s assessments, with the OECD forecast to grow by around 0.1mln BPD Y/Y, while the non-OECD is forecast to grow by 1.2mln BPD Y/Y.

Supply

• Non-DoC liquids supply is forecast to grow by about 0.8mln BPD Y/Y, in 2025, unchanged from last month’s assessment. 


• The main growth drivers are expected to be the US, Brazil, Canada, and Argentina. 


• The non-DoC liquids supply growth  forecast for 2026 is revised slightly down to 0.7mln BPD Y/Y, with US, Brazil, Canada, and Argentina as the main  growth drivers. 

16 Jun 2025 - 13:00- EnergyImportant- Source: OPEC