Oil prices remained steady near $84 a barrel today.
For June delivery, US crude dropped 8 cents to $83.62 a barrel by 12:35am ET, while London Brent crude declined 17 cents to $85.50.
OPEC said it expected oil prices to rise over the next week with the US economy on the rise, however, it is cutting oil shipments due to import reductions in Asia.
Despite that, demand in leading Asian economies remains unabated this year and is estimated to grow in the agriculture and transport sectors, according to Reuters.
The Chinese Academy of Social Sciences predicted China’s economy will probably grow by about 9.9% this year, compared with a previous outlook of 9.1%.
