OPEC maintains expectations of strong growth in oil demand, challenging the narrative of "oversupply."

According to the financial news app, OPEC did not make any adjustments to its relatively strong global oil demand growth forecasts for this year and next in its monthly report released on Thursday. OPEC also stated that the global economy is maintaining a stable growth trend in the second half of this year. In contrast, the International Energy Agency (IEA) stated on Thursday that with further increases in production by OPEC+ member countries and growth in supply from non-OPEC+ countries, global oil supply growth this year will be faster than expected, and there may be an oversupply by 2026.