Business

Oil Climbs on Optimistic Demand Outlook

Qatar NewswireComments Off on Oil Climbs on Optimistic Demand Outlook

Oil prices ticked higher on Wednesday on upbeat global demand views from the US Energy Information Administration and OPEC.

Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel, while US West Texas Intermediate (WTI) crude futures gained 18 cents, or 0.2%, to settle at $78.10.

The EIA raised its 2024 world oil demand growth forecast to 1.10 million barrels per day from a previous estimate of 900,000 bpd, while the Organization of the Petroleum Exporting Countries (OPEC) maintained its 2024 forecast for relatively strong growth in global oil demand.

Source: Qatar News Agency

Qatar Newswire

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