Finance
OPEC sticks to oil demand forecasts, says economy doing well
Published by Global Banking and Finance Review
Posted on September 11, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 11, 2025
1 min readLast updated: January 21, 2026
OPEC maintains high oil demand forecasts, citing robust economic growth. OPEC+ increased crude output by 509,000 barrels per day in August.
LONDON (Reuters) -OPEC made no changes on Thursday to its relatively high global oil demand growth forecasts for this year and next, and said the world economy was maintaining a solid growth trend in the second half of this year.
The upbeat OPEC outlook, in a monthly report, follows the decision of the wider OPEC+ producer group on Sunday to further raise its oil output quotas from October as its leader Saudi Arabia pushes to regain market share.
"Global economic growth in the first half of 2025 remained robust, and the sound growth trend has extended into the second half of 2025," OPEC said in the report.
OPEC's report also showed that in August OPEC+ raised crude output by 509,000 barrels per day, reflecting its earlier decisions to increase its output quotas.
(Editing by Joe Bavier)
OPEC, the Organization of the Petroleum Exporting Countries, is a group of oil-producing nations that coordinates and unifies petroleum policies among member countries to ensure the stabilization of oil markets.
Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. It is a key raw material for producing fuels and other petrochemical products.
Global economic growth refers to the increase in the economic output of countries around the world, typically measured by the growth rate of gross domestic product (GDP).
OPEC+ is a coalition of OPEC members and other oil-producing nations that collaborate to manage oil production levels and stabilize oil prices in the global market.
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