Oil & Gas Report (18 September 2026)

Economic growth has contributed to oil demand growth.

In particular, the economic growth of countries outside the Organization of Economic Cooperation and Development (“OECD”) has contributed to oil demand growth over the recent two decades.

Meanwhile, countries that are part of the Organization of the Petroleum Exporting Countries (“OPEC”) accounted for around 35% of global oil production in 2024, while non-OPEC countries accounted for the balance.