US crude inventories increased by 6.436 million barrels last week, with commercial inventories rising by 5.841 million barrels and the Strategic Petroleum Reserve by 0.595 million barrels. Overall US petroleum inventories, including crude, refined products, and SPR, rose by 13.004 million barrels to 1,591.735 million barrels. OPEC raises the US economic growth forecast for 2024 to 2.1% from 1.9% and notes further upside potential for global economic growth. OPEC maintains its crude oil output in March at 26.60 million barrels per day. IEA downgrades oil demand growth forecast due to elevated Middle East tensions and predicts slower global oil demand for this year and next year.