OPEC has retained its optimistic global oil demand growth forecasts for this year and next, citing strong economic performance in the second half of 2025. In a monthly report released on Thursday, the organization noted that the global economy continued its robust growth trend, which remained steady throughout the first half of 2025. This positive outlook follows the OPEC+ group’s decision on Sunday to increase its oil output quotas starting in October, aimed at regaining market share, particularly under Saudi Arabia’s leadership.
The report indicated that OPEC+ raised its crude output by 509,000 barrels per day in August, reflecting previous decisions to boost production. OPEC expressed confidence in sustained demand, reinforcing its position amidst ongoing adjustments in the oil market. The continuity of strong economic indicators supports OPEC’s projections, highlighting the resilience of global economic activity.