Washington - Agencies:
The US Energy Information Administration expected global oil demand to rise this year at a time when production growth is lower than previously expected.
The agency said in its short-term energy outlook that "the widening supply deficit will increase the withdrawal of oil from global inventories, pushing Brent crude prices back to more than $80 a barrel in the spot market this month."
It added that "Brent crude prices averaged $73 a barrel in spot transactions on September 6, and futures contracts for the global benchmark crude fell yesterday, Tuesday, to less than $70 a barrel for the first time since December 2021."
The agency expected global oil demand to average about 103.1 million barrels per day this year, an increase of about 200,000 barrels per day from its previous forecast of 102.9 million barrels per day.
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