Oil prices rebounded on Thursday as markets turned their attention back to a tighter crude supply outlook for the rest of 2023 with demand set to stay robust through to next year.
Brent crude futures rose 36 cents, or 0.4%, to $92.24 a barrel at 0300 GMT. U.S. West Texas Intermediate crude (WTI) climbed 35 cents, or 0.4%, to $88.87.
Fears of deficient supplies are underpinning oil prices as producers “adamantly stick to restricted production”, said Priyanka Sachdeva, senior market analyst at Phillip Nova.
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