Oil prices rose on Wednesday as U.S. oil production growth was expected to remain largely stable until 2025, easing fears of oversupply.
Brent crude futures rose 38 cents, or 0.5 percent, to $78.97 a barrel. U.S. West Texas Intermediate crude gained 41 cents, or 0.6 percent, to $73.72.
The US Energy Information Administration revealed that US domestic production will not exceed the record set in December 2023, which is more than 13.3 million barrels per day until February 2025.
Source (Al-Arabiya.net Website, Edited)
