OPEC keeps forecast for Global Economic Growth in 2018 unchanged at 3.7 %: Report

The Organization of the Petroleum Exporting Countries (OPEC) has not revised its forecast for global economic growth, and it remains at 3.7 per cent for 2018 and at 3.5 per cent for the next year, OPEC said in its Monthly Oil Market Report released on Wednesday.

"The global economic growth forecast remains unchanged at 3.7% for 2018 and at 3.5% for 2019," the report read.

The growth in the United States and in the Euro-zone remains unchanged, standing at 2.9 percent and 1.9 percent for 2018, and at 2.6 percent and 1.7 percent for 2019 respectively.

OPEC has slightly revised its forecast for Japan, decreasing it to 1.0 percent for 2018, while the forecast for 2019 remains unchanged and stands at 1.1 percent.

India's and China's growth forecasts remain unchanged at 7.5 percent and 6.5 percent for 2018, and at 7.2 percent and 6.1 percent for 2019 respectively.

Growth in Brazil also remains unchanged, standing at 1.1 percent for 2018 and at 1.8 percent for 2019.