The IMF this week hiked global growth projections for both 2018 and 2019 to the highest level since 2010, providing a likely boost to oil demand.

“Global growth has been accelerating since mid-2016, and all signs point to a further strengthening both this year and next. This is very welcome news,” IMF MD Christine Lagarde says.

The IMF’s latest World Economic Outlook update, released 22 January, pegs global growth at 3.9% for both 2018 and 2019, each up 0.2 percentage...