New U.S. tariffs and an unexpected production increase from OPEC+ could trigger what the Bank of America called a “negative commodity demand shock”

U.S. President Donald Trump has notified the partners of Venezuela’s state oil company PDVSA—including Spain’s Repsol—that their permits to export crude oil and derivatives from Venezuela have been canceled

U.S. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said

According to a survey, crude oil inventories increased by 1.75 million barrels last week to 437 million barrels, compared with analysts’ expectations of a 0.5 million barrel increase

Oil prices rose slightly after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, while Chinese economic data buoyed hopes for higher demand

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

The Executive Director of the International Energy Agency (IEA), Fatih Birol, highlighted that the energy transition is necessary not only to mitigate the effects of climate change but also to provide immediate economic benefits and contribute to future energy security

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