Oil demand has been rising. But supply is rising more than twice as fast, and it is starting to overwhelm the market.

The US government jolted energy markets when it announced sanctions on Russia’s two biggest crude oil producers on Oct. 22.

Last month, the Trump administration imposed fresh sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, signaling a renewed desire to drive Moscow to the negotiating table in its war ...

The Trump-Xi meeting did not impact oil markets, with the upcoming OPEC+ meeting expected to be the next major market driver, likely resulting in a modest output increase. Geopolitical and economic ...

China’s retaliatory port levies are exposing oil shipping companies to hefty fees, making them scramble for relevant paperwork, and contributing to delays, cancellations and spiraling freight costs.

The biggest refinery in the Midwest, BP’s Whiting facility, had multiple units offline on Friday, market sources told Reuters, quoting data from energy consultancy Wood Mackenzie. The refinery was ...