Global oil demand growth in 2025 is holding, with more resilience than expected from OECD Europe demand and, on the contrary, lower realized demand in non-OECD countries — especially in India. Energy Intelligence sees demand growing by 762,000 barrels per day in 2025 to 103.6 million b/d, 6,000 b/d lower than last month. The slower demand growth observed in 2024 and again this year seems to confirm that an inflection point has been reached. Energy Intelligence continues to see 2026 demand growth just short of 800,000 b/d.