05:12 AM EDT, 04/15/2025 (MT Newswires) -- Crude oil prices held relatively steady on Tuesday after the International Energy Agency and the Organization of the Petroleum Exporting Countries revised their oil demand forecasts downward, offsetting the boost given by U.S. President Donald Trump's new tariff exemptions.

Brent crude was little changed at US$64.80/barrel and West Texas Intermediate crude held steady at US$61.47/b at last look.

U.S. trade policies have been fluctuating, creating uncertainty for global oil markets. The latest development has been a potential modification to the 25% tariffs imposed on auto imports from Mexico and other countries, Reuters said in a Tuesday report.

Citing market conditions, OPEC on Monday cut its demand outlook for the first time since December 2024 while the IEA on Tuesday also lowered its global oil demand growth forecast to 730,000 barrels per day from 1.03 million b/d.

Meanwhile, China's crude oil imports rebounded in March, rising nearly 5% year-over-year as supply from Iran surged, Reuters reported.

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