On the demand side the latest data from the United States , one of the world 's top oil consumers , has suggested the economy is picking up Grow.strong .

At the same time , oil demand appears to be picking up Grow.strong again after a long period of below-par Slow.weak global economic growth .

Oil futures have weighed heavily Movement.down.loss last night as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a the region surplus of supply Oversupply caused by picking up Grow.strong U.S. shale output and diminished Movement.down.loss demand growth from America .