Oil costs stable with request doubts set against high worldwide oil production


(MENAFN) Oil prices were stable on Friday, with request doubts set against raised worldwide oil production.

International main Brent crude exchanged at USD99.74 a barrel at 10.30 AM regional time (0730 GMT) for a 0.14 percent surge from the ending price of USD99.60 per barrel in the prior trading session.

American main West Texas Intermediate (WTI) stood at USD94.35 a barrel at the same time for a 0.01 percent gain after the prior session finished at USD94.34 per barrel.

Opposing request forecasts from the Organization of the Petroleum Exporting Countries (OPEC) as well as the International Energy Agency (IEA) guaranteed price instability.

The OPEC group estimates lower worldwide oil request on Thursday with a minor revision to request forecast for 2022 to average 100.03 million barrels a day (bpd).

In the meantime, the IEA restudied its worldwide oil request expansion forecasts by 380,000 bpd for this year.

On the provision part, both OPEC as well as the IEA agree that production surged last month.

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