Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, as rising production from the United States and other outside producers outpaces sluggish demand.

The IEA has revised its global oil demand growth forecast upwards for 2024 but warns of weak demand and a potential supply overhang in 2025.

Oil prices on the New York fuel exchange are moving in a "challenging environment," writes Bloomberg. Markets are concerned about the global demand outlook for fuels, especially in China, while global oil supply remains high,

Oil prices on the New York fuel exchange are facing a "challenging environment," reports Bloomberg. Brokers say concerns have emerged in the markets about the demand outlook for fuels worldwide, especially in China,