(Bloomberg) Oil rebounded from an eight-week low in New York<http://topics.bloomberg.com/new-york/>as forecasts of rising demand this year spurred bets that *crude’s slump was exaggerated*.
Futures climbed as much as 0.4 percent as oil’s relative strength index slipped to the lowest in five months, signaling prices may rally. The March contract slid 7 percent in the six days, settling yesterday at $86.19, the lowest since Nov. 30. China’s crude processing volume may rise 7.5 percent this year, China <http://topics.bloomberg.com/china/> Petroleum and Chemical Industry Association said in a report today.
