Oil futures hand back the previous session's gains as market concerns about oversupply outweigh geopolitical factors, including the U.S. seizure of a sanctioned oil tanker off Venezuela.While the International Energy Agency cut its supply surplus forecast for the first time since May, it still expects supply to outstrip demand by 3.8 million barrels a day in 2026, Mizuho's Robert Yawger says in a note."According to the barrel counters, getting long and expecting a big move to the upside is futile, despite t ...

OPEC+ will stick with plans to pause production increases during the first quarter, delegates said, amid growing signs of a surplus in global oil markets.Key members led by Saudi Arabia confirmed the three-month supply pause — first announced at the start of this month — during a video conference on Sunday, according to the delegates, who asked not to be identified as the talks are private.While the hiatus indicates some caution by the Organization of the Petroleum Exporting Countries and its partners after ...