The International Energy Agency slightly lowered this year’s global oil-demand outlook, but said it still expects growth to accelerate on lower prices and an improving economic outlook in developed countries.

OPEC on Wednesday forecast world oil demand in 2026 will rise at a similar, relatively robust rate to this year, while reducing its figure for 2024 for a sixth time highlighting China's sputtering role as the world's demand growth engine.

KEY TAKEAWAYS The International Energy Agency on Wednesday lowered its projection for 2025 oil demand growth though the organization said it would exceed last year's.The Paris-based agency said it expects global oil demand to grow by 1.

By Anne Kauranen HELSINKI (Reuters) -Crew on board an oil tanker accused of sabotaging undersea power and communications cables in the Baltic Sea were poised to cut other cables and pipelines when Finnish authorities boarded the vessel last month,

Finnish investigators say the crew of an oil tanker accused of damaging undersea power and communication cables in the Baltic Sea were preparing to cut additional infrastructure before authorities intervened,

Oil prices rose on Wednesday trimming losses from the previous day, as the focus turned back to potential supply disruptions from sanctions on Russian tankers, though gains were capped as the market awaited more clarity on their impact.

Oil prices were edging up as traders await more clarity on the effect of U.S. sanctions on Russia. Brent crude was up 0.4% at $80.22 a barrel, while WTI was up 0.5% to $76.74 a barrel. Further gains are also being capped by reports of a potentially imminent cease-fire deal between Israel and Hamas.

Upgrades to boost the capacity for oil deliveries to the Czech Republic via the TAL pipeline are complete, ending the country's need to import Russian crude, Prime Minister Petr Fiala said on Tuesday.

The Czech government says the country has boosted its energy security by completing a project to finish its dependence on oil delivery from Russia

The Czech Republic announced this Tuesday that it no longer depends on Russian oil, after the expansion of the capacity of the Transalpine Pipeline (TAL) was completed, reported Prime Minister Petr Fiala.