8/12, 12:16 PM (Source: TeleTrader)
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Oil up slightly as traders assess demand outlook

Prices of oil futures rose moderately on Friday after the Organization of the Petroleum Exporting Countries and the International Energy Agency issued their respective projections concerning oil demand for 2022.

While OPEC downgraded its demand growth forecast by 300,000 barrels per day, the IEA raised it by 380,000 bpd.

West Texas Intermediate (WTI) for settlements in September increased by 0.22% to $94.55 per barrel at 6:03 am ET, while Brent for deliveries in October climbed 0.51%, selling for $100.14 per barrel at the same time.

Baha Breaking News (BBN) / MS