Oil prices edged up on signs of near-term supply tightness but remained near their lowest in two weeks. OPEC downgraded its forecast for global oil demand growth in 2024 and 2025, which weighed on market sentiment. Buyers in the physical market have been active, offsetting bearish sentiment on demand. The International Energy Agency is set to publish its updated forecast on Thursday. U.S. weekly inventory reports have been delayed by a day.
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