Mumbai, May 13 -- Oil producers group OPEC has stated in a monthly update today that global oil demand is forecast to grow by a healthy 1.2 mb/d in 2026, y-o-y. The OECD is forecast to grow by about 0.1 mb/d, while the non-OECD is forecast to grow by about 1.1 mb/d. In 2027, global oil demand is forecast to grow by about 1.5 mb/d, y-o-y, showing an upward revision of about 0.2 mb/d from last month's assessment. The OECD is forecast to grow by 0.2 mb/d, while the non-OECD is forecast to grow by about 1.3 mb/d.
It stated further that non-doc liquids production (i.e., liquids production from countries not participating in the Declaration of Cooperation) is forecast to grow by about 0.6 mb/d, y-o-y, in 2026, unchanged from last month's assessm...