According to the agency’s monthly report, global demand for OPEC+ crude oil will average 42.20 million barrels per day in the second quarter compared to 42.60 million barrels per day in the first quarter. This forecast remains unchanged from the previous report and reflects a seasonal adjustment in consumption.
Crude oil demand figures and forecasts
The document also confirms that the expanded producer bloc pumped 42.45 million barrels per day in January, a significant monthly decline driven by lower volumes in Kazakhstan, Russia, Venezuela and Iran. This decline comes at a time of vigilance over a possible oversupply in the global energy market. global energy market..
On the other hand, eight members of the OPEC+ alliance will meet on March 1 to evaluate whether to resume the production increases planned for April. The decision will be decisive in balancing oil supply and demand. oil supply and demand in a scenario of moderate growth in world consumption.
In parallel, the organization maintains its forecast that world oil demand will increase by 1.38 million barrels per day this year and 1.34 million barrels per day in 2027. These figures exceed the estimates of other energy agencies and reinforce the vision of a still solid market despite a one-off slowdown in the second quarter.
Source and photo: OPEC