OPEC sees 1,4 million barrels per day demand growth in 2025 in their latest forecasts. This is unchanged from OPECs previous assessment in their January oil market report.
OPEC forecasts 1,4 million barrels per day growth in demand in 1Q through 2Q of 2025, with an 200 000 bpd uptick in the third quarter to 1,6 million bpd. In the fourth quarter demand growth is back down to 1,4 million bpd. Non-OECD is expected to carry most of demand growth with 1,3 million bpd, leaving OECD with a 100 000-bpd growth in 2025.
Data from OPECs February Monthly Oil Market Report (MOMR) shows expected total global demand to reach an average of 105,2 million bpd in 2025, with peak demand in the fourth quarter with a global demand of 106,7 million barrels per day. Demand from OECD countries is expected to average 45,9 million bpd in 2025, and non-OECD is expected to average 59,3 million barrels per day in 2025.
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