(Reuters) – Investment bank JP Morgan on Friday raised its outlook for oil prices, but lowered its forecast for global crude demand-growth this year amid increasing uncertainty over international trade. The U.S. bank said prices for Brent crude, the international benchmark for oil markets, would average $70 per barrel in both 2018 and 2019, up from an earlier forecast of $65 and $60 per barrel respectively. Brent stood at around $74 on Friday. “Uncertainty around actual OPEC production increases, current budget constraints and sanction effects could mean near-term oil prices remain elevated,” the bank’s European equity research team said in a note. The Organization of the Petroleum Exporting Countries in June agreed on modest increases in oil production starting in July […]