Energy Markets
OPEC predicts that the world economy could do better in the second half of the year
OPEC stated that the global economy could perform better than anticipated in the second half despite trade disputes and that refineries would continue to increase their crude intake to meet an uptick in travel during the summer, supporting the demand outlook. The Organization of Petroleum Exporting Countries (OPEC) released a report every month on Tuesday. After reducing its estimates in April, the organization left their forecasts of global oil demand growth in 2025-2026 unchanged. In the report, OPEC stated that "India, China and Brazil have outperformed expectations thus far, while United States and Eurozone continue to experience a rebound from...