Oil prices supported by stronger demand in Europe: Goldman Sachs

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Oil prices are being supported by persistent demand in Europe, with consumption in the region rising from a year earlier by an estimated 100,000 barrels a day to 13.7 million barrels a day in February, analysts at Goldman Sachs Group said. The increase contrasts with the bank’s prior forecast of a decline in oil demand of 300,000 barrels a day in February, and by 200,000 barrels a day for the entire year. “One key question for the global demand outlook is whether demand in Europe — the third largest consumer after the US and China — is stabilizing or even...