Uncertain tides in oil: India's gains tempered by multiple export risks

Expectations of higher supply and lower demand were already visible in the price movements for crude oil over the past weeks

The International Energy Agency (IEA) has released new projections for demand growth in crude oil globally this year. The new estimates sharply reduce demand growth over the coming year by 300,000 barrels per day (bpd). This is a large reduction from the over 1 million bpd demand growth predicted earlier, and it appears to reflect broader concerns about overall challenges to economic activities in the midst of policy uncertainty and a brewing trade war sparked by United States President Donald Trump’s tariff announcements. This comes in the context of several other developments in the oil market, including the decision by