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Opec cuts 2016 oil forecast as emerging markets fizzle

The slowdown in China, which sparked volatility in markets in recent weeks, led Opec to trim its forecast for global economic growth to 3.1 per cent this year and 3.4 per cent in 2016.


THE OPEC oil cartel on Monday trimmed its forecast for global oil demand next year as emerging markets, which have been the motor of world growth in recent years, splutter.

Cheap oil prices should be enough to keep oil demand growing slightly in volume terms next year, but