Oil prices rose, buoyed by optimistic expectations from the U.S. Energy Information Administration and the Organization of the Petroleum Exporting Countries (OPEC) on increased demand. Brent crude futures rose 11 cents, or 0.1 percent, to $82.04 a barrel.
U.S. West Texas Intermediate crude futures rose 18 cents, or 0.2 percent, to $78.10. The Energy Information Administration raised its forecast for global oil demand growth in 2024 to 1.10 million barrels per day from the previous estimate of 900,000 barrels. OPEC maintained its 2024 forecast of relatively strong growth in global crude demand.
Source (Al-Arabiya.net Website, Edited)
