The figure marks an upward revision from its previous forecast as a result of "additional US stimulus measures and an accelerating recovery in Asian economies."
According to the report, the US GDP is set to climb 5.7 percent in 2021, while the Eurozone economy is seen growing 4.3 percent and China's GDP is expected to jump 8.4 percent. Still, the organization warned that the forecast remains "clouded by uncertainties" such as the spread of Covid-19 variants, vaccines rollout.
For 2020, OPEC revised its global contraction estimate following the "better-than-expected actual performance" by several economies and now expects the global economy to have contracted 3.5 percent.