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Market Speak: OPEC signals stable oil market as 2026 demand outpaces 2025
12-Dec-2025 10:06
OPEC kept its global oil demand outlook unchanged, projecting a rise of about 1.4 million bpd for 2025, supported by firm economic growth. The group continues to stand apart from other forecasters by expecting even stronger demand in 2026 at around 1.3 million bpd. Its latest Monthly Oil Market Report indicates a broadly balanced market ahead, with demand for crude from OPEC+ producers seen at 43.0 million bpd in 2026. Production from OPEC+ averaged 43.06 million bpd in November, up by 43,000 bpd from October. The alliance will pause its monthly output hikes in the first quarter of 2026. Meanwhile, non-OPEC+ supply is expected to grow by about 600,000 bpd next year, down from roughly 1 million bpd projected for 2025.

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