OPEC Secretary-General: The Global Economy is Growing Healthily Despite Challenges

OPEC and its allies in OPEC+ expect the global economy to grow healthily despite inflation challenges. The organization's Secretary-General, Haitham Al Ghais, stated at the Argus European Crude Conference on Tuesday that "the performance of the United States is very good, although Europe is struggling," noting that annual growth in the Chinese economy is expected to range between 4.5% and 5%. Despite his remarks that this was slower than anticipated, he added, "we still see the global economy growing healthily despite all the challenges and pressures." He highlighted growth opportunities in the aviation sector, saying, "there is still room for improvement in the aviation sector, so we are very optimistic about demand." He pointed out that "OPEC+ is taking a proactive and preventive approach to achieve stability in the crude market."