Global markets: World Bank expects stronger growth in 2017

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By Commodity News Service Canada


WINNIPEG, MB, January 11, 2017 (CNS Canada) – The following is a glance at the news moving markets globally.


– The world economy is expected to increase in 2017, according to a report from World Bank.


Global economic growth is forecast to reach 2.7 per cent in 2017. Strong demand for commodities and fiscal stimulus in select economies is expected to spur growth.


– Crude oil futures advanced in early activity on Wednesday, as Saudi Arabia has told Asian customers it will be slightly cutting back supplies, reports say.


The news follows a bullish output reduction deal from OPEC (Organization of the Petroleum Exporting Countries) which is expected to trim stocks of the commodity.