WTI crude oil futures edged higher toward $67 per barrel on Wednesday, trimming earlier losses as demand optimism from the US and China boosted sentiment. Strong summer travel and higher US gasoline use lifted the outlook, while China’s Q2 growth helped ease demand concerns. MCX crude rose 0.5% to Rs 5740 per barrel. OPEC maintained a positive view for the second half of 2025, citing rising demand from India, China, Brazil, and steady recovery in the US and EU. The global oil demand growth forecast for 2025 remains at 1.3 mb/d, year-on-year (y-o-y), unchanged from last month’s assessment, OPEC noted in its latest monthly update. However, gains were limited by strength in US dollar and a record 19.1 million-barrel jump in US crude stocks. WTI Crude slipped in last session, falling near $66 per barrel and testing one week low.
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