OPEC Forecasts Significant Increase in Global Oil Demand for 2027, Driven by India and Non-OECD Asia

The Organization of the Petroleum Exporting Countries (OPEC) projects global oil demand to rise by 2.4 million barrels per day (mb/d) in 2027, reaching an average of 108.2 mb/d. This anticipated growth is primarily attributed to healthy economic activity in non-OECD economies, particularly India and other Asian countries, with transportation fuels and petrochemical feedstock expected to be key drivers.