Oil prices edged up on Monday, supported by OPEC+'s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery.
Both contracts notched their fourth weekly gains last week after theforecast record demand in 2023 of 101.9 million barrels per day, up 2 million bpd on last year.
for Middle East crude supplies, which meet more than half of Asia's demand, are already squeezing refiners' margins, prompting them to secure supplies from other regions.ahead of peak summer demand while cutting diesel production amid worsening margins.almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorized exports.
The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies.
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