Weekly gains for oil are set to reach record heights.

Oil prices are heading to record gains for the fourth consecutive week, after the International Energy Agency said that global demand will rise to a new record this year, supported by the recovery of consumption in China, despite the strengthening of the dollar.

And the agency warned that the production cuts announced by the “OPEC +” producing countries may increase the oil supply deficit and harm consumers.

Brent crude futures fell 1 cent to 86.08 dollars. US West Texas Intermediate crude futures rose 30 cents to $82.46.