OPEC Report Shows Oil Demand Reached Over 105MMBpd in 2025

In its latest Annual Statistical Bulletin (ASB), which was released recently, OPEC projected that world oil demand grew by 1.30 million barrels per day year on year in 2025, reaching 105.15 million barrels per day, a release posted on OPEC’s site outlined.

The ASB showed that oil demand grew year on year in almost every region, the release highlighted, noting that the largest gains recorded in non-OECD Asia, China, Africa, Latin America, India, and the Middle East.

Total world crude oil production also increased in 2025 by 2.24 million barrels per day compared to 2024, reaching an average of 74.85 million barrels per day, according to the ASB, the release pointed out.

“Crude oil production from OPEC member countries and non-OPEC oil producing countries participating in the Declaration of Cooperation (DoC) increased, year on year, by 1.22 million barrels per day and 0.12 million barrels per day respectively, while crude production from non-DoC countries rose by 0.90 million barrels per day,” the release stated.

The ASB was first published in 1965 and is one of OPEC’s flagship publications, the release noted, adding that it “continues to provide a broad range of statistics and figures on the global energy industry”.

“Particularly focusing on oil and natural gas, in addition to major key economic indicators, the ASB serves as a leading source of reliable data for officials, policymakers, industry experts, analysts, researchers, members of academia and other stakeholders,” the release stated.

On its website, OPEC states that its mission is “to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry”.

The group is made up of Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, and Venezuela. The United Arab Emirates’ Ministry of Energy and Infrastructure announced, in a statement posted on its X page which was translated from Arabic, that the country had made a decision to withdraw from OPEC and OPEC+, effective May 1.

In its latest short term energy outlook (STEO), which was released on April 7, the U.S. Energy Information Administration (EIA) showed that world petroleum and other liquid fuels consumption averaged 103.97 million barrels per day last year.

OECD consumption made up 45.89 million barrels per day of this total and non-OECD demand made up 58.08 million barrels per day, that STEO highlighted.

World petroleum and other liquid fuels production came in at 106.30 million barrels per day in 2025, according to the EIA report, which showed that crude oil output totaled 78.93 million barrels per day last year and other liquids came in at 27.37 million barrels per day.

The 2025 world petroleum and other liquid fuels production total of 106.30 million barrels per day comprised 33.79 million barrels per day from OPEC, made up of 27.99 million barrels per day of crude oil and 5.80 million barrels per day of other liquids, and 72.51 million barrels per day from non-OPEC sources, made up of 50.94 million barrels per day of crude oil and 21.57 million barrels per day of other liquids, the STEO showed.

The EIA states in its STEO that it is the statistical and analytical agency within the U.S. Department of Energy.

“By law, our data, analyses, and forecasts are independent of approval by any other officer or employee of the U.S. Government,” the EIA notes in its STEO.

“The views in this report do not represent those of DOE or any other federal agencies,” it adds.

The EIA’s next short term energy outlook (STEO) is scheduled to be released on May 12.

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