SEATTLE (Oil Monster): The Organization of Petroleum Exporting Countries (OPEC) announced publication of the September edition of its Monthly Oil Market Report. The report provides short-term developments in the global oil market.
According to the research, the 2025 global oil demand growth prediction, which was 1.3 mb/d last month, is still expected to hold steady. In 2025, the OECD's oil demand is expected to increase by roughly 0.1 mb/d, while the non-OECD's oil consumption is expected to increase by roughly 1.2 mb/d.
Global oil demand is expected to increase by roughly 1.4 mb/d year over year in 2026, which is likewise unchanged from the estimate made last month. The non-OECD is anticipated to grow by roughly 1.2 mb/d, year over year, whereas the OECD is predicted to rise by roughly 0.2 mb/d, year over year.
In August 2025, the USGC refinery margins reported improvements for the second consecutive month, continuing their rising trajectory. According to preliminary figures, global refinery intake increased even more in August, reaching 83.9 mb/d.
According to the preliminary July data, OECD commercial inventories were 2,761 mb, which was 2.4 mb more than the previous month.
The U.S. crude imports rose to 6.5 mb/d, aided by higher inflows from Brazil, Mexico and Canada. In the meantime, US crude exports averaged 3.9 mb/d, touching the highest level since March. The exports to India and South Korea recorded notable increase.
