OPEC Expects Global Economy To Stay Resilient Through 2025 Despite Trade Tensions

(MENAFN- KNN India) New Delhi, Jun 17 (KNN) The Organisation of the Petroleum Exporting Countries expressed confidence Monday that the global economy will demonstrate continued resilience through the remainder of 2025, despite mounting concerns over international trade disputes.

The oil cartel simultaneously reduced its projection for crude supply growth from non-OPEC+ producers in 2026.

OPEC maintained its previous forecasts for worldwide oil demand growth in both 2025 and 2026, following earlier downward revisions implemented in April.

The organisation characterised the economic outlook as fundamentally sound, notwithstanding persistent trade-related uncertainties that continue to influence market sentiment.

The cartel highlighted that global economic performance has exceeded expectations during the first six months of 2025.

This robust foundation is projected to sustain positive momentum throughout the second half of the year, though OPEC anticipates a gradual moderation in growth rates on a quarterly basis moving forward.

Regarding supply dynamics, OPEC revised downward its forecast for oil production increases from countries operating outside the Declaration of Cooperation framework, the formal designation for the OPEC+ alliance.

The organisation now projects these non-member nations will add approximately 730,000 barrels per day to global supply in 2026, representing a reduction of 70,000 barrels per day from the previous month's estimate.

This downward revision in non-OPEC+ supply growth could provide the broader alliance with enhanced flexibility in managing global oil market equilibrium.

The OPEC+ group, which encompasses the traditional OPEC membership alongside Russia and other allied producers, has faced ongoing challenges from accelerated production growth in United States shale operations and other non-member countries, factors that have contributed to downward pressure on crude oil prices in recent years.

(KNN Bureau)

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