OPEC expects solid growth in oil demand

Published at: 11/09/2025 05:51 PM

The Organization of Petroleum Exporting Countries (OPEC) on Thursday did not change its forecasts for relatively high growth in global oil demand for this year and next, and stated that the world economy maintains a solid growth trend in the second half of this year.

The optimistic outlook for OPEC, set out in a monthly report, follows the decision taken on Sunday by the largest group of OPEC+ producers to further increase its oil production quotas starting in October, while its leader, Saudi Arabia, is pressing to regain market share.

“Global economic growth in the first half of 2025 remained strong, and the solid growth trend has extended into the second half of 2025,” OPEC said in the report.

The OPEC report also showed that in August OPEC+ increased crude oil production by 509,000 barrels a day, reflecting its previous decisions to increase its production quotas.

Mazo News Team