Analysts say market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for the country's military operation in Ukraine.
From April 1, buyers will transfer payments into Russia's Gazprombank account in foreign currency, which the bank will then convert into roubles and transfer into the buyer's rouble account.
UAE energy chief doubles down on OPEC alliance with Russia ahead of a meeting of energy producers later this week.
UAE's Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan during his visit to Moscow says it is important to maintain the stability of energy and food markets in the wake of Ukraine conflict.
The court decision stated that the oil and gas law of the Kurdish Regional Government goes against the constitution of the country.
Organization of the Petroleum Exporting Countries has chosen Haitham al Ghais to become the group's top diplomat, as it navigates a delicate recovery from the Covid-19 pandemic.
The latest film adaptation of the Sixties novel helps us understand the contemporary Middle East and its ecology.
President Joe Biden orders release of 50 million barrels of oil from strategic reserves, saying gas prices will fall for consumers but it will take time.
Washington demanded Opec and Russia to increase oil production to help bring down the surging fuel prices, which have hit the US and several developing countries.
The US President says his administration is working on supply chain issue this year as a means of lowering inflation.
The Islamic republic has also built a 1,000-km pipeline to carry its oil from Goreh, in the southwestern Bushehr province, to the new terminal in the country's southeast.
The roots of the very public — and personal — clash between the two Arabian powers in OPEC are complicated and rooted in myriad geopolitical factors.
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