Core Insights - OPEC has raised its forecast for global oil demand growth in 2026 to 1.38 million barrels per day, an increase of 100,000 barrels per day from previous estimates [1] - The forecast for total oil supply growth from non-OPEC+ producers, including the U.S., has been revised down to approximately 630,000 barrels per day, down from 730,000 barrels per day, indicating a tighter market supply [1] - OPEC and OPEC+ countries may find it easier to implement production increases to regain market share if oil demand rises and supply growth slows [1] - OPEC maintains its oil demand forecast for 2025, citing resilient global economic data despite uncertainties related to trade tensions and geopolitical risks [1] - In July, OPEC and OPEC+ countries increased crude oil production by 335,000 barrels per day [1]