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OPEC: Global oil demand unchanged for 2025, 2026

VIENNA,  | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) said on Monday it would keep its forecasts for global oil demand growth unchanged at 2.9 percent for 2025 and 3.1 percent for 2026. In its latest monthly oil market report, OPEC projected a year-on-year increase of 1.3 …

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World Bank slashes 2025 global growth forecast

Kampala, Uganda | THE INDEPENDENT | The World Bank has slashed its 2025 global growth forecast, citing trade tensions and policy uncertainty. The report released during the week said global gross domestic product (GDP) growth to 2.3 down from the 2.7 percent. Focusing to countries like Uganda or Low Income …

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G7 summit ends in disputes

CALGARY, Canada | Xinhua | The Group of Seven (G7) summit wrapped up in Canada on Tuesday with no joint communique but some stark frictions. Several statements, or the leaders’ commitments, were issued after the summit, which included driving secure, responsible and trustworthy AI adoption across public and private sectors, …

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Iran vows not to surrender, warns U.S. of “irreparable damage”

TEHRAN | Xinhua | Iran’s Supreme Leader Ali Khamenei said on Wednesday that the country remains steadfast amid its conflict with Israel and will not surrender to anyone amid pressure, according to the Tasnim news agency. In a televised address, Khamenei praised the “steadfast, courageous, and timely” response of the …

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Trump, Iran and trade leave G7 divided

CALGARY, Canada | Xinhua | The Group of Seven (G7) leaders met for the first day of the two-day summit in Kananaskis in the province of Alberta, Canada, on Monday with emerging disagreements. According to CNN, U.S. President Donald Trump does not intend to sign a joint statement calling for …

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Iranian missile hits Israel’s largest oil refinery

JERUSALEM | Xinhua | An Iranian missile struck Israel’s largest oil refinery complex in the northern port city of Haifa early on Monday, killing three workers and sparking a fire at the facility, Israel’s military censor said in a statement. The missile hit the Bazan oil refinery before dawn, igniting …

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