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IMF warns low emergency oil stocks and stretched budgets raise risk

In its latest World Economic Outlook, the IMF also upgraded its forecast for UK GDP growth in 2026.

Reported · Written up by our desk · Trade & Tariffs

The International Monetary Fund warned that the global economy could face a tougher test of resilience as emergency oil stocks run low and government budgets are stretched, according to its twice-yearly World Economic Outlook.

The IMF said global growth has held up better than feared over the past six months, helped in part by rerouted oil supplies away from the Strait of Hormuz and the release of strategic energy stocks that limited pressure on oil prices tied to the US-Iran war.

However, the IMF warned that those emergency stocks are now depleted, and it flagged high debt as an additional vulnerability.

The IMF also said it upgraded its forecast for UK GDP growth for 2026.

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