Brent crude futures rose by 43 cents, or 0.5 per cent, to $83.39 per barrel at 1300 GMT, while U.S. West Texas Intermediate crude futures climbed to $78.62 per barrel, up by 51 cents, or 0.7 per cent.
OPEC predicts that global oil demand will rise by a substantial 1.85 million bpd, reaching 106.21 million bpd by 2025. This forecast is supported by disruptions in US oil production caused by a severe cold snap and increasing geopolitical tensions in the Middle East, which are contributing to the positive momentum of the oil market
Brent crude was up 73 cents, or 0.9%, at $84.65 a barrel by 0122 GMT, while US West Texas Intermediate crude was at $80.41 a barrel, up 85 cents, or 1.1%.
Brent crude futures LCOc1 rose 8 cents to $80.07 per barrel by 0126 GMT, while US West Texas Intermediate (WTI) crude CLc1 futures gained 6 cents to $76.29.