World oil supply will rise more rapidly than expected this year and next as OPEC+ members further increase output and supply from outside the group grows, the International Energy Agency said Wednesday.

The International Energy Agency (IEA) has further trimmed its forecast for crude oil demand this year, citing softer global economic growth and market uncertainties. For 2025, the association of industrialized nations now expects demand to rise by only 680,

For years, India has balanced close partnerships with both Washington and Moscow, even throughout Ukraine war. Trump is finally demanding it picks a side

India’s state-owned oil refiners are pulling back from purchases of Russian crude for now, according to people with direct knowledge of the companies’ procurement plans, as Washington ratchets up the pressure on New Delhi over the flows with a wave of harsh tariffs.

US President Donald Trump has said that its steep tariffs on India over its import of Russian oil have dealt a "big blow" to Moscow's economy, which he said was not performing well.

Oil prices fell over 1% on Wednesday after a U.S. crude supply unexpectedly rose, but losses were limited after the U.S. Treasury Secretary said President Donald Trump could leverage sanctions at a meeting with Russian President Vladimir Putin.

Oil was little changed after slumping 5% last week as investors await details from US President Donald Trump’s meeting with Russian President Vladimir Putin to gauge the trajectory of supply additions to the global market.

Trump-Putin summit set for Alaska Friday as president seeks to determine if Ukraine ceasefire possible, marking Putin's first U.S. visit in decade.