Prices pared early losses Movement.down.loss after stronger-than-expected Grow.strong U.S. employment data .

Looking ahead into the second quarter , I expect oil prices to continue to rise Movement.up.gain while being kept in check by stronger-than-expected Grow.strong US shale supply levels and caution over the prospect of a slowing Slow.weak in global demand .

The IMF this week upwardly revised its estimates for world economic growth to 1.7 percent for both 2012 and March , up Movement.up.gain from its 3.70 % outlook on its last update in March , which `` further improves the already fairly stronger-than-expected Grow.strong consumption prospects on the oil market , '' Commerzbank ( DE : CBKG ) analysts say .

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