The Latest Breaking News from Oil

The measure is aimed to reduce Russia’s income from selling oil

Ukraine’s Western allies approve oil price cap to starve Russia of revenues as Kyiv pushes for a lower cap of $30.

The Kremlin says US refusal to recognise Moscow’s annexed territories in Ukraine is hindering any potential settlement and EU members agree on Russia oil price cap

The office of Ukrainian President Volodymyr Zelenskyy is calling for a lower price cap on Russian oil than the one agreed to by Ukraine's Western supporters

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Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap…

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

The huge revenues of several Yemeni institutions prompted the Houthi militia to implement new administrative and financial measures to control and manage the profit in their favor. The new measures introduced e-accounting systems and complex administrative control procedures, dismissed the head of these institutions, and replaced them with group members.…

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a “dangerous” attempt by Western governments to introduce a price cap on its crude exports.