Key Points
NEW YORK (Reuters) -Oil prices rose slightly on Tuesday as the market weighed bearish U.S. economic data against OPECs demand growth forecast and persistent geopolitical tensions...
On Tuesday, OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, and further raised its economic growth forecast for this year saying there was more room for improvement...
Last week, economic data from China, the worlds biggest oil buyer, suggested softening demand even as crude imports increased in the first two months of the year compared with the same period in 2023...
Bearish demand sentiment and growing non-OPEC supply leave little room for the market to be bullish on oil prices at this time, said Serena Huang, head of APAC analysis at Vortexa...
Though the Gaza conflict has not led to significant oil supply disruptions, Yemens Iran-aligned Houthis have been attacking ships in the Red Sea and Gulf of Aden since November in a campaign they say is in solidarity with Palestinians...
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