Global oil demand may grow by 1.4 mln barrels per day (bpd) and reach 106.53 mln bpd, the Organization of Petroleum Exporting Countries (OPEC) said in its report.
The forecast for demand growth in the second quarter of this year was revised downward for OECD and non-OECD countries, which is driven by a temporary slowdown of oil demand growth due to developments in the Middle East. The organization expects it will be compensated in the second half of this year.
OPEC expects oil demand growth by 1.34 mln bpd to 107.87 mln bpd in 2027.
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