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Oil prices tick higher after snapping 3-day winning streak - MarketWatch

1. Oil futures gained support after a three-day decline. 2. OPEC forecasts 2025 global demand growth at 1.4 mbd. 3. IEA trims 2025 growth outlook to 1.05 mbd, impacting supply forecasts. 4. U.S. crude inventories fell 2.6 million barrels last week. 5. Cold weather and U.S. sanctions are affecting oil supply dynamics.

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FAQ

Why Bullish?

OPEC's stable demand forecast supports oil prices. Historical trends show similar forecasts often drive prices up.

How important is it?

Significant changes in production and demand forecasts can influence CL.1 prices.

Why Short Term?

Immediate impacts from inventory data release expected. Supply dynamics are influenced by transient factors like weather.

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