OPEC cuts 2025 global oil demand forecast by 150,000 bpd

OPEC has lowered its forecast for global oil demand growth in 2025 by 150,000 barrels per day (bpd), citing revised first-quarter data and the impact of U.S. tariffs.

In its April report, the group now expects demand to rise by 1.3 million bpd, reaching 105.05 million bpd next year. The estimate for 2024 remains unchanged at 103.75 million bpd.

In March, OPEC had forecast a 2025 increase of 1.45 million bpd.

Looking ahead, global oil demand is projected to rise by 1.28 million bpd in 2026, reaching 106.33 million bpd.