OPEC sees few long-term pressures from trade war

Global trade tensions won’t have a significant impact on the economy, though overall demand for oil cools off next year, OPEC economists said Wednesday.

Economists at the Organization of Petroleum Exporting Countries said Wednesday they expected global growth in gross domestic product for 2018 should be 3.8 percent, unchanged from its June forecast. Growth next year slows to 3.6 percent in part on deceleration in the European economy and China. India’s economy grows by 7.3 percent next year and picks up slightly in 2019 to 7.4 percent.

For the United States, the world’s leading economy, OPEC said growth for 2018 was revised up by 0.1 percent to 2.8 percent, but it slows to 2.4 percent next year…

 

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