The Organization of the Petroleum Exporting Countries (OPEC) projected global oil demand growth of 2.6 million barrels per day in 2027, after growth of just 200,000 barrels per day in 2026, pushing average demand from 105.7 million to 108.3 million barrels per day, with part of the jump coming from rebuilding stocks drawn down during the Iran war – commercial stocks in the Organisation for Economic Co-operation and Development (OECD) stood 177.2 million barrels below their 2015-2019 average in August, according to OilPrice.com.