OPEC Demand Forecast Boosts Bullish Sentiment in Oil Markets

Oil Prices Rise on OPEC Demand Forecast and Easing U.S. Inflation Oil prices are sharply higher as we end the week, driven by an optimistic demand forecast from OPEC and signs of easing U.S. labor market and inflation pressures. These factors have bolstered expectations for potential Federal Reserve rate cuts despite recent cautious statements from Fed officials. Consequently, oil prices have posted a near 3% weekly gain. US Economic Indicators and Federal Reserve Actions The U.S. Labor Department reported a 0.2% drop in the Producer Price Index…