BAKU, Azerbaijan, April 30. OPEC continually reviews the market outlook, this is done daily at the OPEC Secretariat, Haitham Al Ghais, OPEC Secretary General, said in an exclusive interview with Trend.
"At present, we remain generally optimistic about the global economic growth outlook, which stands at 3% for 2025 and 3.1% for 2026, with annual oil demand growth of 1.3 million barrels a day (mb/d) for both years. However, we remain cognizant of a variety of uncertainties.
In the near-term, this includes those concerning the much talked about tariff-related dynamics and trade disputes, although expectations are for trade agreements between the US and most of its trading partners. It is clear we need to be watchful in the coming months, and OPEC will continue to monitor developments on a daily basis,” he added.
Al Ghais said it is important to stress that for OPEC and its partners in the Declaration of Cooperation, the core focus is on the full global picture.
“We monitor all the various inputs into the global oil market, such as economic growth, supply and demand, as well as inventories, and take informed decisions based on sound data and robust analysis, and grounded in realities. This is vital in helping ensure that we keep our eyes firmly on the objective of a balanced market and sustainable market stability,” he said.