OPEC estimates that global oil demand will grow by 1.3 million barrels per day in both 2025 and 2026, which is in stark contrast with the demand estimate of the International Energy Agency. The IEA sees oil demand growth this year at less than 1 million bpd. Although demand rose by 990,000 barrels daily over the first quarter, the IEA expects this to slow considerably to just 650,000 bpd over the remainder of the year.
