Given the weak growth outlook amid a global trade war, the bank expects that oil demand will rise by only 300,000 bpd between the end of last year and the end of 2025

At least two vessels carrying Venezuelan crude chartered by Chevron are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers

The statistical division of the U.S. Department of Energy has adjusted its annual U.S. and global oil demand growth projections for both this year and the next

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