Global oil consumption is projected to increase by 1.21 million barrels per day in 2025, reaching a total of 103.74 million bpd, according to an analysis by the King Abdullah Petroleum Studies and Research Center. The report highlights factors such as geopolitics, inventory levels, and the global energy transition that will shape market volatility in the coming years. Non-OECD countries, particularly India and the Middle East, are expected to experience significant demand growth. In terms of oil supply, global production is expected to increase by approximately 1.48 million bpd in 2025 and 1.98 million bpd in 2026, resulting in a surplus. However, if OECD countries maintain low inventory levels, this could contribute to bearish conditions in the oil market.