The Latest Breaking News from G7

On Wednesday, OPEC+ announced a dramatic reduction in production quotas, by 2 million barrels per day. According to oil ministers, the goal is to boost crude prices and “encourage investment” in the sector — making it sound like they are doing the world a favor. In fact, this is an…

The world as we know it cannot function without oil, giving oil-producing countries an advantage economists call market power. Nations that produce oil are able to set the price, while countries that rely on oil have little choice but to buy it at prices determined by the seller.

G7 sanctions on Russia will target its oil and products in three phases, senior U.S. treasury official Ben Harris said on Tuesday, as the bloc seeks to limit unintended economic damage while curbing Moscow's funds to wage war in Ukraine.

Inaugural summit of EU initiative that aims to unite Europe on issues such as security and energy to take place in Prague

Russia’s effort to conscript 300,000 reservists to counter Ukraine’s military advances in Kharkiv has drawn a lot of attention from military and political analysts. But there’s also a potential energy angle.

India is deeply concerned over the spike in the price of oil due to the Russia-Ukraine conflict and it is "breaking our back," External Affairs Minister S Jaishankar has said. Read more on Dynamite News:

The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks after a similar group involving several other G7 nations was launched, according to a document seen by Reuters.

PM Narendra Modi meets Japanese counterpart Fumio Kishida; lauds Shinzo Abe’s role in cementing Indo-Japan ties

Neither Chancellor Kwasi Kwarteng nor Liz Truss are currently expected to publicly address the major market shift, following Friday’s mini-budget

Prime Minister Fumio Kishida announced his intention to increase the number of inbound travelers to Japan by lifting the current ban on the acceptance of individual foreign travelers from Oct. 11.

India has maintained that the purchase of Russian crude is not made through government intervention and the supply is being sourced from the global market