OPEC Maintains Steady Economic Growth Projections for 2024 and Beyond

The Organization of Petroleum Exporting Countries (OPEC) has recently confirmed its unwavering stance on the global economic growth forecast for 2024, maintaining it at 3.1%. This figure aligns with previous predictions, indicating a consistent outlook for the global economy. Similarly, the anticipated growth rate for 2025 remains unchanged at 3.0%.

In the United States, slight adjustments have been made, with the GDP growth forecast nudged upwards by 0.1 percentage points. As a result, the projected growth for 2024 is now 2.8%, and for 2025, it stands at 2.2%. The Eurozone's economic prospects have not seen any revisions, with expected growth of 0.8% in 2024 and 1.2% in 2025. China's economic trajectory remains steady, with forecasts of 4.9% growth in 2024 and 4.7% in 2025. Russia's economic outlook also remains unchanged, with expected growth of 3.5% in 2024 and 1.7% in 2025.

Resilient Global Economic Growth

The OPEC report highlights the resilience of global economic growth in 2024, with quarterly expansion consistently exceeding 3%. Despite minor fluctuations, the overall growth trajectory has remained stable. The report also notes increasingly divergent growth dynamics across major economies, signaling potential shifts in global economic balance.