The International Energy Agency modestly raised its forecast for global oil-demand growth and said improved compliance with output quotas among members of the OPEC+ alliance is reducing a projected supply surplus in the market.

The International Energy Agency once again slashed expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations.

The forecast for global oil demand growth in 2025 has been raised to 1.1 million b/d, higher than the 1.05 million b/d forecast in January, due to a minor pickup in GDP

KEY TAKEAWAYS The International Energy Agency on Thursday raised its projection for 2025 oil demand growth slightly, with China continuing to drive the increase—though at a smaller pace than in the past.

Russian oil exports could be sustained if workarounds to the latest U.S. sanctions package are found, after Russian crude production rose slightly last month, the International Energy Agency (IEA) said in its latest oil market report.

Concerns over supply constraints have supported oil prices, with Brent crude exceeding $80 per barrel in January before retreating below $75 following Trump's latest trade tariffs.

International Energy Agency (IEA) raised its forecast for global oil demand growth in 2025, with an increased share of consumption coming from India a

Fresh US sanctions on Russia’s oil exports have yet to impact supply, the International Energy Agency said on Thursday. “Fresh US sanctions on Russia and Iran roiled markets at the start of the year but they have yet to materially impact global oil supply,