OPEC expects improved economic performance in H2 2025 to support oil demand, with high refinery intake driven by summer travel and resilient growth in key markets.
The Organization of the Petroleum Exporting Countries (OPEC) said Tuesday that the global economy could outperform earlier expectations in the second half of 2025, helping sustain oil demand despite trade tensions and market uncertainty.
In its monthly oil market report, OPEC maintained its forecasts for demand growth in both 2025 and 2026, citing robust economic activity in major emerging economies. “India, China, and Brazil are outperforming expectations so far, while the United States and the Eurozone are experiencing a continued rebound from last year,” the report noted.
OPEC added that high crude intake at refineries, driven by increased summer travel, would help maintain elevated demand levels.
Meanwhile, the broader OPEC+ group — which includes non-OPEC allies such as Russia — increased output by 349,000 barrels per day in June, bringing total production to 41.56 million bpd. This figure falls just short of the 411,000 bpd increase outlined in the group’s latest quotas.
The boost in production signals OPEC+'s effort to regain market share after prolonged output cuts aimed at supporting prices.
Türkiye has reinforced its strategic partnership with Hungary, aiming to expand cooperation in trade, energy, defense, and innovation....
Georgia is entering one of the most consequential phases of its foreign policy in years....
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes...
A powerful 7.6-magnitude earthquake struck off Japan’s northeastern coast late Monday, prompting tsunami warnings for Hokkaido, Aomori, and Iwate pr...
On December 8, an official welcome ceremony was held for President Ilham Aliyev of Azerbaijan in Bratislava, Slovakia. The ceremony took place at the ...
Türkiye has reinforced its strategic partnership with Hungary, aiming to expand cooperation in trade, energy, defense, and innovation.
Ukraine’s President Volodymyr Zelenskyy says recent talks with U.S. representatives on a possible peace plan were “constructive, although not easy,” as he prepares for new consultations with European leaders in the coming days.
Emergency crews were deployed to the northeastern Ukrainian city of Okhtyrka on Monday morning after a residential high-rise was devastated by a Russian drone barrage, leaving several civilians wounded as the conflict approaches the end of its fourth year.
Tensions between Washington and Tehran have found a new focal point regarding border control, as the Iranian government confirmed on Sunday that a fresh wave of nationals expelled from the United States is due to arrive within days.
A coup attempt by a “small group of soldiers” has been foiled in Benin after hours of gunfire struck parts of the economic capital Cotonou, officials said on Sunday.
A delayed local vote in the rural Honduran town of San Antonio de Flores has become a pivotal moment in the country’s tightest presidential contest, with both campaigns watching its results as counting stretches into a second week.
FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
A powerful 7.6-magnitude earthquake struck off Japan’s northeastern coast late Monday, prompting tsunami warnings for Hokkaido, Aomori, and Iwate prefectures, the Japan Meteorological Agency (JMA) reported.
Lava fountains shot from Hawaii’s Kīlauea volcano from dawn to dusk on Saturday, with new footage showing intensifying activity at the north vent.
Türkiye has reinforced its strategic partnership with Hungary, aiming to expand cooperation in trade, energy, defense, and innovation.
A powerful 7.6-magnitude earthquake struck off Japan’s northeastern coast late Monday, prompting tsunami warnings for Hokkaido, Aomori, and Iwate prefectures, the Japan Meteorological Agency (JMA) reported.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
On 10–11 December, President of the Islamic Republic of Iran Masoud Pezeshkian will pay an official visit to Astana.
The United Nations Security Council (UNSC) will hold a session on 10 December in New York to examine Afghanistan’s worsening human rights and humanitarian conditions, according to the United Nations Assistance Mission in Afghanistan (UNAMA).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment