OPEC cut demand growth forecasts for 2025 on Wednesday
EU sanctions package targets 39;shadow fleet39; of ships carrying Russian oil
US gasoline and distillate inventories rose more than expected last week

Dec 12 Reuters Oil prices were little changed on Thursday as forecasts of weak demand and a higherthanexpected rise in U.S. gasoline and distillate inventories placed a lid on gains from an additional round of EU sanctions threatening Russian oil flows.

Brent crude futures were up 31 cents at 73.83 a barrel at 0815 GMT. U.S. West Texas Intermediate crude futures rose 22 cents to 70.51. Both benchmarks rose by more than 1 on Wednesday.

OPEC cut its demand growth forecasts for 2025 for the fifth straight month on Wednesday and by the largest amount yet.

Investors will be closely monitoring the IEA39;s market balance estimates for 2025, which will reflect OPEC39;s recent announcement, analysts at ANZ said in a note on Thursday.

In the world39;s top oil consumer, the United States, gasoline and distillate inventories rose by more than expected last week, according to data from the Energy Information Administration.

Weak demand, particularly in top importer China, and nonOPEC supply growth were two factors behind the move. However, investors anticipate a rise in Chinese demand, after Beijing unveiled plans this week to adopt an appropriately loose monetary policy in 2025, which could spur oil demand.

Global oil demand rose at a slowerthanexpected rate this month,…