In its latest report, the U.S. Energy Information Administration cut its 2018 world oil demand growth expectation by 80,000 barrels per day to 1.58 million barrels per day while reducing the 2019 forecast 100,000 barrels per day to 1.47 million barrels per day.
As of writing, the barrel of West Texas Intermediate was trading at $69.25, adding 2.6% on the day.
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