1.5 million barrels a day. The most important forecast of world demand for oil.

Samia al - Faqi

OPEC forecasts that the total global demand for oil during the second quarter of 2026 fell by about 1.5 million barrels per day compared to the previous quarter to approximately 104.6 million barrels per day, with the demand of States outside the Organization for Economic Cooperation and Development expected to decline by about 1.2 million barrels per day to about 59.1 million barrels per day, and the demand in the OECD countries is expected to decrease by about 270 thousand barrels per day, reaching about 45.4 million barrels per day per day, depending on the annual report.

Lower global demand

The International Energy Agency (IEA) forecasts that the total global demand for oil during the second quarter of 2026 decreased by about 2.4 million barrels per day compared to the previous quarter to about 101 million barrels per day, with the demand expected to decline by States outside the Organization for Economic Cooperation and Development (OECD) by about 1.5 million barrels per day compared to the previous quarter, to about 56.6 million barrels per day, and the demand by OECD countries is expected to fall by about 930,000 barrels per day to about 44.4 million barrels per day.

Organization for Economic Cooperation and Development

With regard to United States energy information management forecasts, the global demand for oil in the second quarter of 2026 rose by about 700,000 barrels per day compared to the previous quarter, to about 103.9 million barrels per day, with demand in States outside the Organization for Economic Cooperation and Development expected to increase by about 1.1 million barrels per day compared to the previous quarter to about 58.7 million barrels per day, while the demand for OECD States is expected to decline by about 430,000 barrels per day compared to 45.2.

It should be noted that prospects continue to be subject to a state of uncertainty linked to many uncertainties and fears, the most important of which are: the persistence of geopolitical tensions in the Middle East, the associated targeting of energy infrastructure, and the almost total disruption of global energy flows across the Hormuz Strait, which could lead to lower volumes of world trade, worsening inflation, thus decreasing the performance of the world economy and weakening oil demand.