Fitch raises its global economic growth forecast to 2.6%

Fitch Ratings Agency raised its forecast for global economic growth this year to 2.6%, compared to its previous forecast of 2.4%, while keeping its forecast for US economic growth unchanged at 2.1%.

It left most of its oil and gas price forecasts unchanged, reflecting broadly unchanged market fundamentals.

Fitch stated that the “OPEC Plus” alliance’s plans to cancel production cuts next year, in addition to the near-record oil production in the United States and the rise in global crude inventories, will push the market to record a surplus in oil next year.