UAE Industry Minister: Oil demand up about three million barrels a day. Sultan Al Jaber, Minister of Industry and Director of Abu Dhabi Oil Company ADNOC, said on Monday during the Global Energy Forum that a return to pre-pandemic CPOVID-19 oil demand levels is possible by the last quarter of 2022,...

With the economic consequences of the Ukraine crisis becoming clear, Qatar's foreign minister told CNBC that some countries were exploring a "parallel system" of oil pricing.   It comes after the Wall Street Journal reported that Saudi Arabia is speeding up talks with China to accept yuan...

Russia's invasion of Ukraine on February 24 triggered broad sanctions, ripping the country out of the global financial fabric and sending its economy into a tailspin.   After a month, Russia's currency has lost a significant portion of its value, and its bonds and stocks have been removed...

The United Nations has lowered its global economic growth prediction to 2.6 percent. At a press conference on Thursday, UN cut its prediction for global economic growth in 2022 to 2.6 percent, according to UN Secretary-spokesperson General's Stéphane Dujarric. "The United Nations Conference on...

Larry Fink, the CEO of BlackRock Inc., said on Thursday that the Russia-Ukraine crisis could hasten the adoption of digital currencies as a means of settling international transactions, as the conflict upends the last three decades' globalisation drive.   Fink wrote to the world's largest...

This year, Lloyd's of London will face significant claims relating to Russia's invasion of Ukraine, but the commercial insurance market leader indicated on Thursday that this will not result in insolvency concerns.   Chairman Bruce Carnegie-Brown told Reuters that Lloyd's is asking its...

The EC has approved a support package of €500 million for farmers affected by the situation in Ukraine. The European Commission (EC) has approved a support package for EU farmers most affected by the conflict in Ukraine, the agency said. The size of the package of assistance to agricultural...

U.S. oil inventories dropped unexpectedly for the week - down 0.6% to 413.4 million barrels. U.S. commercial oil inventories (excluding strategic reserves) decreased by 2.5 million barrels, or 0.6%, to 413.4 million barrels for the week ended March 18, according to a weekly review by the Energy...

The United States has agreed to reduce Trump-era tariffs on steel and aluminium shipments to the United Kingdom, eliminating a point of contention between the allies.   The action comes after previous agreements with the European Union and Japan over the divisive taxes imposed by former...