OPEC expects robust oil demand growth in 2025
North Dakota oil production falls more than half after cold snap
Coming up EIA data on U.S. oil stockpiles at 1600 GMT

SINGAPORE, Jan 18 Reuters Oil prices rose on Thursday as OPEC forecast relatively strong growth in global oil demand over the next two years, while the market also eyed disrupted U.S. oil production amid a cold blast and tensions in the Middle East.

Brent crude futures gained 49 cents, or 0.6, to 78.37 a barrel by 0740 GMT, while U.S. West Texas Intermediate crude futures rose 70 cents, or 1.0, to 73.26.

OPEC, in a monthly report, said world oil demand is expected to rise by a robust 1.85 million barrels per day bpd in 2025 to 106.21 million bpd. For 2024, OPEC saw demand growth of 2.25 million bpd, unchanged from its forecast in December.

However, price gains were capped for now as the market considered mixed drivers.

Brent crude prices remain broadly stuck in a range as they have been over the past two weeks, as market participants struggle to weigh mixed demandsupply dynamics with prevailing geopolitical tensions, said Yeap Jun Rong, market strategist at IG.

An unexpected build in U.S. crude stockpiles and challenging conditions for China39;s economic recovery continue to cast a shadow over the oil demand outlook, said Yeap, though the market remains wary of geopolitical developments.

In the latest tensions, Pakistan conducted strikes inside Iran targeting Baluchi separatist militants, the…