OECD warns global economy will decelerate this year despite potential oil price peak

The OECD released a new outlook on the world economy. It notes that oil prices could reach a peak in the near term. Despite that possibility, the organization projects overall growth to slow this year. The slowdown is linked to the lingering fallout from the war in the Middle East. The OECD says the war’s consequences are likely to be felt for some time. Slower growth may pressure policymakers and markets worldwide. Observers will monitor oil price movements and geopolitical developments. The report suggests the economic outlook will remain uncertain as the conflict’s effects persist.