The IMF this week upwardly revised its estimates for world economic growth to more than 2 % for both 2012 and Thursday , up Movement.up.gain from its 3.70 % outlook on its last update in the preceding week , which `` further improves the already fairly rosy Grow.strong demand prospects on the oil market , '' Commerzbank ( DE : CBKG ) analysts say .

Https://www.investing.com/news/stock-market-news/brent-crude-hits-70-after-stronger-imf-economic-growth-outlook-1140471 Crude oil prices rise Movement.up.gain to new two-week highs Position.high , lifted by rosy Grow.strong worldwide economic growth prospects and continued supply restrictions Cause.movement.down.loss ; U.S. WTI crude +1.5 % at $ 64.57 / bbl , Brent +1.6 % at $ 70.13 / bbl .

The IMF this week upwardly revised its forecast for world economic growth to 3.9 % for both 2018 and 2019 , up Movement.up.gain from its 3.7 % outlook on its last update in October , which `` further improves the already fairly rosy Grow.strong demand prospects on the oil market , '' Commerzbank -LRB- DE : CBKG -RRB- analysts say .

Consuming nations might bank on sharply more Movement.up.gain supply from UAE , Canada and Iraq , on the basis of their rosy Grow.strong estimates of exports this week - but only once they have put present troubles behind them .

Nonetheless , the organisation kept its global growth forecast for 2019 steady Movement.flat at 1.4 mb/d based on rosy Grow.strong non-OECD growth and even revised world growth estimates up Movement.up.gain based on rebounds Movement.up.gain in parts of the Middle East and Asia .