Western leaders want to bleed Moscow financially but China and India haven't indicated if they plan to abandon the purchase of Russian oil.
Global demand was overshadowed by the prospect of further interest rate hikes in the United States and Europe to combat inflation and strict Covid-19 restrictions in China.
UN inspectors visit a Russian-occupied power plant to "prevent a nuclear accident" there as the Kremlin criticises a EU move making it difficult for Russians to enter the bloc on the 190th day of the conflict.
As the Ukraine conflict makes Black Sea shipments difficult, Kazakhstan looks at an alternative route to export its oil to Europe.
Analysts predict Iran could boost its oil exports by 1 million to 1.5 million barrels per day, or up to 1.5 percent of global supply, in six months, following international efforts to revive the 2015 nuclear deal.
Investors sold oil positions on worries that aggressive interest rate hikes to stem inflation will sharply slow economic activity and hit oil demand.
A hydrocarbon-fueled political crisis at home is mainly driving the US president’s upcoming visit to the region.
White House praises King Salman and Crown Prince Mohammed bin Salman for their roles in the ceasefire extension in Yemen's war, ahead of President Biden's expected visit to Riyadh.
The state-owned oil producer, which is at par with Apple as the world's most valuable company, reported an almost 82 percent rise in the first-quarter net profit.
The company was pushed into a headline loss of $20.4 billion in the quarter following its decision in February to pull its 19.75-percent stake in Russian energy group Rosneft.
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.
US President Joe Biden is planning to order the release of up to 1 million barrels of oil per day to control spiked energy prices, AP news agency reports.
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