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.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to res...
Afghanistan and Belarus have agreed to advance joint industrial projects, investment and technical cooperation following talks in Minsk, as Kabul s...
Uzbekistan and Azerbaijan are drawing up a new programme aimed at boosting bilateral trade to $1 billion by 2030, as the two countries move to deep...
The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 19th of August, covering the latest developments.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Australia on Thursday condemned Israel’s decision to close its criminal investigation into the deaths of Australian aid worker Zomi Frankcom and six World Central Kitchen colleagues killed in Gaza in April 2024.
North Korea has fired more than 10 short-range ballistic missiles after U.S. President Donald Trump reduced American participation in joint military exercises with South Korea in an effort to revive dialogue with Pyongyang.
Georgia’s foreign trade data for January-July 2026 shows Kyrgyzstan, China and Russia as its top three export markets, highlighting its Middle Corridor ambitions and complex economic ties with Moscow.
Kazakhstan will vote on 23 August in its first parliamentary election under the new Constitution, choosing 145 members of the new Kurultai under a fundamentally changed electoral system based entirely on party lists.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment