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OPEC raised its projection for global oil demand in 2027 to 108.19 million barrels per day, up from an estimated 105.84 million bpd in 2026, implying growth of 2.36 million bpd next year versus 380,000 bpd this year. The cartel’s September Monthly Oil Market Report attributes much of the acceleration to non‑OECD countries, with China and India accounting for large shares of the increase.
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