Oil prices remained stable, today, Tuesday, after the Organization of the Petroleum Exporting Countries (OPEC) maintained its expectations for the growth of global demand for crude this year and next, in light of the continuing tension in the Middle East and beyond.
Sharjah 24 – Reuters:
Oil prices stabilized today, Tuesday, after the Organization of the Petroleum Exporting Countries (OPEC) maintained its expectations for growth in global demand for crude this year and next, in light of continued tension in the Middle East and beyond.
Brent crude futures for May delivery rose 24 cents to $82.45 a barrel by 14:20 GMT, while the US crude contract for April rose 31 cents to $78.24 a barrel.
Today, Tuesday, OPEC maintained its expectations for relatively strong growth in global oil demand in 2024 and 2025, and raised its expectations for economic growth for this year, attributing this to the fact that there is still more room for improvement.
The US Energy Information Administration’s monthly report is scheduled to be issued later on Tuesday, while the International Energy Agency, which advises industrialized countries, is expected to announce its estimates the day after tomorrow, Thursday.
2024-03-12 19:34:38
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