Crude oil price parred some of its losses on Wednesday’s trade while remaining close to the one-month low hit about two weeks ago. A bearish outlook persists amid a soft demand outlook from China and the world.

Oil prices opened $1 dollar higher following the weekend to trade at 73.80 a barrel when markets opened. Click to read.

Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.

OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China.

Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand forecast cut, while the dollar hit a seven-month high, capping crude's gains. Brent crude futures were up 61 cents,

Oil prices on the New York fuel exchange are slightly rising, but they remain close to this month's lowest levels. Brokers say investors are focused on the fuel demand outlook after OPEC countries lowered their oil demand growth forecasts for this and next year.

Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.