NEW YORK, Feb 12 (Reuters) - Oil prices rose on Tuesday as OPEC raised the outlook for the amount of crude it will need to pump this year to keep supply and demand in balance.
The 12-member Organization of the Petroleum Exporting Countries said in its monthly market report that world oil demand will grow faster than previously thought this year.
"Overall, I would say the OPEC report is constructive and mildly bullish based on the demand forecast," said Dominick Chirichella, senior partner at Energy Management Institute in New York.
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