The Latest Breaking News from OPEC

Oil prices were steadily climbing before Russia's invasion of Ukraine

Oil prices rose on Thursday as concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports, days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.11, or 1%, to $107.91 a barrel at 0852 GMT.

Organisation lowers its oil demand forecast as Covid measures cushion impact of lost Russian flows

New Zealand announces its fourth straight interest rate hike, US consumer prices rise at their fastest pace since 1981, while surging commodity prices boost the Australian share market.

WASHINGTON — As consumers fume over skyrocketing prices for gasoline and other commodities, congressional Democrats on Wednesday called executives from big oil companies on the carpet to explain why they appear to be making unseemly fat profits in the face of an international crisis.

The U.S. Senate approved the Sunshine Protection Act in March 2022, with the goal of making daylight saving time permanent starting in November 2023. If that happens, the U.S. will never again “spring forward” or “fall back.”

Gas prices will keep rising amid Russian war in Ukraine as sanctions tighten and demand outstrips supply, experts say.

With the Russian invasion of Ukraine boosting energy costs and reducing availability, fossil fuel proponents push back.

Iraq exports of oil reached $11.07 billion last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia's invasion of Ukraine, the oil ministry said. The second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), Iraq exported "100,563,999 barrels for…