Crude oil prices rose in Asian pre-noon trade today after OPEC and the International Energy Agency raised their demand forecasts for the year, shaking off EIA’s latest weekly inventory report that estimated a large inventory build in the United States. In its latest Monthly Oil Market Report, OPEC revised its 2023 oil demand projections up to 2.
3 million barrels daily earlier this week. That represented a 100,000-bpd change from last month’s forecast. Of this, 2 million bpd in demand growth will come from non-OECD countries, the oil…Oil Prices Rise On Upbeat Demand Forecasts
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