Global economic activity has broadly strengthened since the second half of 2013. Recovery continues, but remains uneven. Cautious economic optimism among oil and gas companies is reshaping the business landscape.
In April, the International Monetary Fund published its updated World Economic Outlook (WEO). The authoritative outlook forecasts the global economy will expand 3.6% in 2014 and 3.9% in 2015. This is up from 3% in 2013.
Much of the impetus is coming from advancing economies. The recession in Europe appears to be over. The US recovery seems solidly grounded. Fiscal consolidation is slowing as acute risk of debt sustainability has diminished. Banks are gradually becoming stronger. ...