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Oil prices register one-month highs as IEA and OPEC raise forecasts

Apr 15, 2021 - Business Standard India

Global oil demand and supply are set to be rebalanced in the second half of this year Oil prices rose on Thursday to the highest level in nearly a month, after jumping 5% in the previous session, driven by increased demand forecasts from the International Energy Agency (IEA) and OPEC as major economies recover from the pandemic. Brent crude was up by 16 cents at $66.74 a barrel by 0659 GMT, after reaching $66.94 earlier, the highest since March 18, and gaining 4.6% on Wednesday. U.S. ...