Two of the most closely followed predictors of global oil demand, the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) - see it growing by between 2% and 3% this year and next.

Abu Dhabi equities (.FTFADGI) advanced 1.9% to mark their best day since early March. The country's largest lender Abu Dhabi First Bank (FAB.AD) jumped 3.1% and telecoms firm e& (ETISALAT.AD), formerly known as Emirates Telecommunications, gained 3.8%.

Among other stocks, investment firm Multiply Group (MULTIPLY.AD) surged 6.9%, rallying for a ninth straight day. The company on Tuesday acquired a 7.3% stake in Abu Dhabi National Energy Company (TAQA.AD) in a deal valued at AED 10 billion ($2.72 billion).

Shares of Dhabi National Energy Company were up 4.4%.

In Dubai, the main share index (.DFMGI) rose 0.8%, with state-run Dubai Electricity and Water Authority (DEWAA.DU) adding 1.6% and blue-chip developer Emaar Properties (EMAR.DU) increasing 0.9%.

Abu Dhabi and Dubai indexes posted weekly gains of 4.1% and 3.8%, respectively.

($1 = 3.6727 UAE dirham)