The Organization of Petroleum Exporting Countries (OPEC), in its latest monthly report released on Monday, maintained its global economic growth forecast for 2025 at 3%, unchanged from the previous month’s estimate. The group highlighted that the world economy continues to show resilience, supported by steady recovery in major economies despite trade disruptions.
OPEC noted that economic growth in the United States during the second quarter helped offset the slower pace seen in the first quarter, which had been affected by tariff concerns. The organization expects the global economy to sustain its growth momentum through 2025 and into 2026, projecting growth of 3.1% for 2026.
Among major economies, the US is expected to grow 1.8% in 2025 and 2.1% in 2026, the Eurozone by 1.2% in both years, while China’s GDP is forecast to expand 4.8% in 2025 and 4.5% in 2026.
On the energy front, OPEC maintained its forecast for global oil demand growth at 1.3 million barrels per day (bpd) in 2025, followed by an increase of 1.4 million bpd in 2026. Of this, demand in OECD countries is expected to rise by 0.1 million bpd, while non-OECD regions, led by India, China, and Other Asia, will contribute an additional 1.2 million bpd each year.
OPEC emphasized that the Americas will drive OECD growth, while non-OECD demand will remain concentrated in Asia, reflecting strong industrial activity and transportation needs.
The report concluded that despite global uncertainties and trade tensions, the world economy and energy demand remain on a stable growth trajectory, supported by adaptive supply chains and improving financial conditions.
