dec 15 reuters  oil prices rose in early asian trade on friday after falling 2 in the previous session on central bank interest rates hikes and is poised to end the week higher after a series of positive oil demand forecasts brent crude futures rose 36 cents or 04 to 8157 per barrel by 0109 gmt west texas intermediate futures rose 25 cents or 03 to 7636 per barrel both benchmarks are poised to end the week more than 7 higher the market found support this week from international energy agency projections of chinese oil demand recovering next year after a 2022 contraction to 400000 barrels per day bpd the agency raised its 2023 oil demand growth estimate to 17 million bpd opec on tuesday stuck to its forecasts for global oil demand growth of 255 million bpd this year and 225 million bpd in 2023 after several downgrades saying that while economic slowdown was quite evident there was potential upside such as from a relaxation of chinas zerocovid policy in bearish demand news the us federal reserve indicated it will raise interest rates further next year even as the economy slips toward a possible recession on thursday the bank of england and the european central bank raised interest rates to fight inflation a stronger dollar makes oil more expensive for those using other currencies