WTI recovers above $78 on upbeat IEA’s oil market report
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In its latest oil market report published on Wednesday, the International Energy Agency (IEA) said that China reopening will drive oil demand in 2023 but still deficit could loom.
WTI is cutting losses from near daily lows of $77.84 to regain the $78 mark, in the wake of the upbeat IEA’s outlook on global oil demand. The US oil is still down 1.65% on the day.
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