Milan, 23 Sept. (LaPresse) – “Global growth slowed in the first half of 2026, but remained resilient in many countries despite the negative effects of the conflict in the Middle East. Substantial oil stocks, additional supply from economies outside the Gulf and discretionary support measures by governments helped to mitigate the impact on the global economy. Continued strong activity in the artificial intelligence sector also supported investment, production and trade.” This is noted by the OECD in its Interim Economic Outlook. The global economic outlook “remains heavily dependent on the achievement of a lasting solution to the conflict in the Middle East. Energy prices have recently risen again, against a backdrop of intensifying disruptions to production and exports in the Gulf economies. High refining margins, due to production bottlenecks, are exerting further upward pressure on consumer prices and business costs. Prices of some agricultural commodities have also risen significantly in recent months, partly due to the impact of extreme weather conditions on supply.”
OECD: War in the Middle East and the energy crisis are holding back the global economy
Milan, 23 Sept. (LaPresse) – “Global growth slowed in the first half of 2026, but remained resilient in many countries despite the negative effects of the conflict in the Middle East. Substantial oil stocks, additional supply from economies outside the Gulf and discretionary support measures by governments helped to mitigate the impact on the global economy. Continued strong activity in the artificial intelligence sector also supported investment, production and trade.” This is noted by the OECD in its Interim Economic Outlook. The global economic outlook “remains heavily dependent on the achievement of a lasting solution to the conflict in the Middle East. Energy prices have recently risen again, against a backdrop of intensifying disruptions to production and exports in the Gulf economies. High refining margins, due to production bottlenecks, are exerting further upward pressure on consumer prices and business costs. Prices of some agricultural commodities have also risen significantly in recent months, partly due to the impact of extreme weather conditions on supply.”