Russia hails a decision by OPEC+ to reduce oil production despite US opposition, saying it successfully countered the "mayhem" sown by Washington in global energy markets.

India will continue to buy oil from wherever it has to, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri has said, noting no country has told New Delhi to stop buying Russian oil.

OPEC's secretary general says Iran plays a significant role in bringing stability to the global oil market..

Oil prices jumped by several percentage points on Monday after US President Joe Biden returned from his Saudi Arabia trip without getting firm assurances from Arab allies to boost crude supplies amid a severe shortage caused by sanctions on Russia.

The US mulls lifting a ban on the sale of offensive weapons to Saudi Arabia; however, the final decision is expected to hinge on the KSA ending the war in neighboring Yemen.

Mohammad Barkindo, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), has passed away unexpectedly at the age of 63.

OPEC’s Barkindo says additional supplies from Iran and Venezuela could ease the global energy crisis.

Saudi Arabia and the UAE can barely increase their oil production capacity, Emmanuel Macron says.

According to the US Labor Department, the annual inflation rate rose to 8.6% in May, shattering any of relief from the skyrocketing inflation.

Latest OPEC figures show Iran’s oil output rose by 36,000 bpd in April.