OPEC indicated in its monthly report that it expects a continued rise in global demand for oil in 2026, with an anticipated growth of 1.43 million barrels per day, a rate similar to the expected increase in 2025, which is 1.45 million barrels per day. This is the first forecast of its kind issued by the organization for 2026 in its monthly report, reflecting its commitment to keeping up with continuous changes in energy markets.
The report clarified that the demand for crude oil will significantly rise due to increased need for fuel for transportation, especially in the aviation sector, where air travel is expected to continue expanding in the coming years, enhancing both international and domestic mobility. The report noted that this increase is expected to continue in the near future, indicating that the demand for oil will remain on a continuous rise over the next two decades.
It is worth mentioning that earlier, Bloomberg news agency reported a decline in OPEC’s crude oil production during December, primarily due to the United Arab Emirates' efforts to implement production cuts aimed at maintaining stability in global oil prices, especially following the recent decline in crude prices.
