The International Energy Agency (IEA) has revised its 2024 oil consumption figures and demand expectations for 2025 due to uncertainty caused by U.S. tariff announcements

The Organization of the Petroleum Exporting Countries (OPEC) reported on Wednesday that Kazakhstan led a significant increase in production in February by OPEC+, highlighting the challenge the group faces in meeting agreed production targets

According to official sources, crude oil, gas, and other energy products exported in the first month of the year accounted for 14.9% of Argentina’s total exports in January

U.S. President Donald Trump reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia’s finances and help bring an end to the war in Ukraine

Saudi oil giant Aramco’s Chief Executive Amin Nasser said he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year

During his inaugural address at the Capitol, Trump promised to “lower prices, refill our strategic reserves to the top, and export American energy worldwide”

The International Energy Agency (IEA) has revised upward its forecast for global oil demand in the last quarter of 2024, primarily due to colder winter conditions in many regions of the Northern Hemisphere, but it does not foresee supply shortages

OPEC, in a monthly report, said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year. The 2026 prediction is OPEC’s first in its monthly report

Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers

The United States announced widespread sanctions against Russia’s energy sector, designating more than 180 ships and two major oil companies just days before outgoing President Joe Biden leaves office