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U.S. crude up amid tight supply outlook Updated: 2022-08-19 08:57:27 KST

U.S. oil prices rose for the second straight day on Thursday, as positive economic data and robust fuel consumption in the U.S. offset concerns that slowing economic growth in other countries could undercut demand.
The U.S. West Texas Intermediate rose 2.7 percent to 90 dollars and 50 cents per barrel.
The previous day it rose more than one percent.
Meanwhile, the new secretary-general of OPEC blamed policymakers, lawmakers, and insufficient oil and gas sector investments for high energy prices.
He also said that OPEC-plus, in its next meeting in September, could cut or even increase production, depending "on how things unfold".
Watchers also say the EU ban on Russian oil exports could also dramatically tighten supply and drive up prices in the coming months.
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