OPEC projects global oil demand to rise by 1.38m bpd in 2026

LONDON: OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the US and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. The outlook for higher demand and a drop in supply growth from outside OPEC+ would make it easier for OPEC+ to proceed with its plan to pump more barrels to regain market share after years of cuts aimed at supporting the market.

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