OPEC Forecasts 2.6 Million Bpd Oil Demand Growth in 2027

· Oil & Gas

OPEC has forecast global oil demand growth of 2.6 million barrels per day in 2027, a sharp acceleration from just 200,000 bpd this year. The group revised its 2027 demand forecast higher, projecting average world oil demand would rise from 105.7 million bpd in 2026 to 108.3 million bpd next year. The upgrade signals OPEC expects a much tighter market ahead, a view that could influence production policy and investment decisions across the industry.

Why it matters：OPEC's demand outlook shapes expectations for supply policy and investment; a swing from near-zero growth to 2.6 million bpd would tighten the market and lift prices.

Key points

  • 2027 growth forecast is 2.6 million bpd, up from 200,000 bpd this year.
  • World demand would rise from 105.7 million bpd in 2026 to 108.3 million bpd in 2027.
  • OPEC revised its 2027 forecast higher.

Sources (original reporting)

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