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Global oil demand growth rate to slow - FORECAST

The US Energy Information Administration (EIA) under the Department of Energy has released its forecast for global daily demand for liquid hydrocarbons for 2026–2027, APA-Economics, citing the EIA’s monthly report.

Global daily demand for liquid hydrocarbons is expected to average 106.16 million barrels in 2027 (previous forecast – 106.61 million barrels), which is 1.6 million barrels higher than the projected figure for 2026.

At the same time, the EIA has revised its forecast for global daily demand for liquid hydrocarbons for 2026. According to the forecast, global daily demand for liquid hydrocarbons this year will average 104.56 million barrels, which is 0.61 million barrels lower than the previous estimate.

It is noted that in 2025, global daily demand for liquid hydrocarbons averaged 103.94 million barrels, which is an increase of 1.14 million barrels compared to the 2024 figure (102.8 million barrels).

 

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