(Reuters) – The Organization of the Petroleum Exporting Countries and allies (OPEC+) sees a healthy global economy growing, despite the broad challenges of inflation.

The United States is doing very well, although Europe is struggling, general secretary Haitham Al Ghais told the Argus European Crude Conference on Tuesday, noting that even Chinese annual growth is expected in the range of 4.5% to 5%.

While he said that has been slower than expected, “we still see a healthy global economy growing despite all the challenges and pressures”.

He highlighted the opportunity for growth in the aviation sector. “In the airline sector there is still room for improvement, so we are quite positive on demand.”

OPEC+ has taken a proactive and a preventative approach to achieve a stable crude market, he added.