OPEC – Monthly Oil Market Report, Feb 2025

The OPEC report for February 2025 highlights significant trends in crude oil prices, economic forecasts, and global oil demand and supply. In January, crude oil prices saw notable increases, with the OPEC Reference Basket averaging $79.38/b. Global oil demand growth for 2025 remains forecasted at 1.4 mb/d, supported by non-OECD countries. The report also covers supply dynamics, with non-DoC liquids supply expected to grow by 1.0 mb/d in 2025. Meanwhile, refinery margins rose on the US Gulf Coast due to winter storms and maintenance.