OPEC maintained its 2026 global oil demand growth forecast at 1.38 million barrels per day (bpd).
Total global consumption is projected to reach 106.53 million bpd.
The cartel expects resilient demand despite multi-year high prices and economic uncertainty from the U.S.-Iran conflict.
OPEC production remains at a multi-decade low due to the closure of the Strait of Hormuz.
Non-OECD countries will drive the expansion, accounting for 1.23 million bpd of the total growth.
The report signals a tight market balance likely to maintain upward pressure on crude prices.