Global oil demand expected to rise by 1.3 million barrels per day in 2027

OPEC projects steady increase in energy demand

The Organization of the Petroleum Exporting Countries (OPEC) said global oil demand is likely to increase by about 1.3 million barrels per day (bpd) in 2027.

According to the organization’s latest outlook, rising energy consumption in developing economies will drive most of the growth in global demand.

Non-OECD countries to lead growth

Most of the expected increase will come from non-OECD countries, where demand is projected to rise by around 1.2 million barrels per day compared with the previous year.

In contrast, the Organisation for Economic Co‑operation and Development (OECD) region is expected to record a smaller increase of about 100,000 barrels per day during the same period.

Energy demand in emerging markets continues to expand as economies grow and industrial activity rises. As a result, these countries are expected to remain the main drivers of global oil consumption.

OPEC production also increases

Meanwhile, OPEC reported that its crude oil production rose in February 2026. Output increased by 164,000 barrels per day compared with January, reaching about 28.63 million barrels per day.

The organization shared the figures through its official account on the social media platform X.

Analysts say the production increase reflects ongoing efforts by oil-producing countries to respond to changing market demand while maintaining supply stability.
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