The International Energy Agency (IEA) said on Friday (August 11) it raised its projection for global oil demand growth in 2023 to "scaling record highs". IEA said that OPEC+ production cutbacks could reduce oil stocks for the rest of this year, potentially sending prices further higher.

International Energy Agency says oil demand going up, prices could rise further this year

Brent crude ended the session up 74 cents, or 1.7%, at $45.17 a barrel, while West Texas Intermediate oil settled 49 cents, or 1.2% higher, at $42.19 a barrel.

Oil prices hit 5-month high as U.S crude stocks fall

oil-prices-rises

Oil Prices Rises, News on Oil Prices Rises, stories on Oil Prices Rises, articles on Oil Prices Rises, Oil Prices Rises stories at Wion, Oil Prices Rises news, Oil Prices Rises latest news

oil prices-rises

International Energy Agency says oil demand going up, prices could rise further this year

Oil prices hit 5-month high as U.S crude stocks fall