OPEC kept its forecast for world oil-demand growth in 2025 unchanged at 1.29 million barrels a day but lifted its 2026 projection to 1.38 million barrels a day from 1.28 million, according to the producer group’s August Monthly Oil Market Report. The organisation also nudged up its outlook for global economic expansion next year to 3% from 2.9%. On the supply side, OPEC trimmed its forecast for 2026 non-OPEC+ output growth to 630,000 barrels a day, down from 730,000. It now expects U.S. tight-oil production to decline by 100,000 barrels a day in 2026, reversing a previous expectation of flat output. Actual production rose in July after the latest OPEC+ quota increase. Crude output from the wider alliance averaged 41.94 million barrels a day, up 335,000 from June, while OPEC’s own production was put at 27.54 million barrels a day based on secondary sources. Saudi Arabia told the group it pumped 9.525 million barrels a day in July, up about 165,000 from the prior month.