WTI Crude Oil prices are holding around 62.96 during the Asian session as investors digest OPEC’s monthly report. The cartel now expects global oil demand in 2026 to increase by 1.38 million barrels per day, which is 100 thousand bpd above the July estimate, while its outlook for 2025 remains unchanged. The bulk of the growth is seen in non-OECD countries—about 1.2 million bpd—driven notably by India and China, while OECD economies are set to contribute roughly 200 thousand bpd. In absolute terms, demand in 2026 is projected to reach around 107 million bpd. OPEC also trimmed its non-OPEC+ supply growth forecast to 630 thousand bpd from 730 thousand bpd a month earlier, mainly due to an anticipated 100 thousand bpd decline in U.S. shale output. In OPEC’s view, this should help balance the market and ease the bloc’s plan to gradually unwind production curbs after years of restraints.