OPEC maintains oil demand forecasts for 2025, 2026

OPEC has announced that it is maintaining its forecast of a 1.3% year-on-year increase in global oil demand for both 2025 and 2026, while expecting a notable rise next quarter due to higher consumption during the summer holiday season in the Northern Hemisphere.

"The global economy continues to show a steady growth trend despite recent developments related to tariffs," states the Organization of the Petroleum Exporting Countries (OPEC) in its May monthly report, issued in Vienna.