LONDON, Aug. 9 (UPI) -- The Organization of Petroleum Exporting Countries meeting in London Tuesday cut their forecast for global economic growth to 3.7 percent for 2011.
OPEC said economic growth would reach 4 percent in 2012. Pointing out the stumbling economic recovery would impact oil demand, the world's largest oil cartel in a monthly report said demand would grow in 2011, but pushed their previous demand forecast down by 150,000 barrels per day.