The Organisation of the Petroleum Exporting Countries or OPEC stated in a latest monthly update that the global economy continues to demonstrate a steady growth trend despite recent tariff-related developments. The global economic growth forecast for 2025 is revised down slightly to 2.9%, but the growth forecast for 2026 remains at 3.1%. Following the decline in economic growth seen in 1Q25, the US economic growth forecasts are revised down to 1.7% for 2025 and 2.1% for 2026. Japan's economic growth forecasts remain unchanged at 1% for 2025 and 0.9% for 2026. Given the better-than-expected performance in 1Q25, the Eurozone's economic growth forecast for 2025 is revised up slightly to 1% but remains at 1.1% for 2026. China's economic growth forecasts for 2025 and 2026 remain unchanged at 4.6% and 4.5%, respectively. Similarly, India's economic growth forecasts remain unchanged at 6.3% for 2025 and 6.5% for 2026. Brazil's economic growth forecasts remain unchanged at 2.3% for 2025 and 2.5% for 2026. Also, Russia's economic growth forecasts for 2025 and 2026 remain unchanged at 1.9% and 1.5%, respectively.

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