Energy and oilUpdated November 11

OPEC holds oil-demand growth forecasts steady.

The curious split in OPEC’s November report is between the two years, not a change in the forecast: the organization left both estimates where they were. It expects global oil demand to grow by 180,000 barrels per day in 2026, taking total demand to 105.72 million bpd. For 2027, it projects growth of about 2.55 million bpd, with total demand reaching 108.28 million bpd. In other words, the 2026 increase looks small next to the much larger jump forecast for the year after.

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Coverage started November 11