OPEC has forecast that world oil demand in 2026 will rise at a similar rate to this year, while reducing its figure for 2024 for a sixth time, following economic weakness in China, the world's biggest importer of oil.

The 2026 forecast is in line with the Opec's view oil use will rise for the next two decades, in contrast to the West's International Energy Agency (IEA) that predicts it will peak this decade as the world shifts to cleaner energy.

OPEC said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year. The IEA forecast slower world oil demand growth in 2025 of 1.05 million bpd.

The report put 2024 demand growth at 1.5 million bpd, compared with 1.61 million bpd listed in December report.