Global demand for liquid hydrocarbons (LHC) is expected to decline by 1.25 million barrels per day (b/d) in 2026, reaching 102.73 million b/d, according to the monthly report from the U.S. Energy Information Administration (EIA).
A month earlier, the agency had projected a decline of 1.22 million b/d, meaning the forecast was revised down by a symbolic 30,000 b/d.
For 2027, EIA analysts estimate that global oil demand will increase by 2.23 million b/d to 104.96 million b/d. In July, they had forecast growth of 2.03 million b/d, indicating an upward revision of 200,000 b/d.
The revision is attributed to an improved demand outlook for OECD countries, which was raised by 180,000 b/d to 45.81 million b/d.