global economic growth

IEA trims oil demand forecast on weakness in wealthier countries

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IEA trims oil demand forecast on weakness in wealthier countries

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth by 130,000 barrels per day to 1.2 million bpd due to lower than expected consumption in OECD countries and a slump in factory activity.

World faces persistent low growth in absence of productivity reforms, IMF says

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World faces persistent low growth in absence of productivity reforms, IMF says

Global economic growth is projected to reach just 2.8% by 2030, a full percentage point below the historical average, unless major reforms are made to boost productivity and leverage technologies like artificial intelligence, according to the IMF.