Economy

Kuwait exports zero barrels of oil for first time in 35 years, according to Tanker Trackers

After traffic through the Strait of Hormuz was effectively shut down Kuwait exported zero barrels of oil

OPEC+ Approves Output Hike as UAE Exit and Iran War Disrupt Supply

OPEC+ members agreed to raise oil output targets by 188,000 barrels per day following the UAE's exit and amid ongoing disruptions in the Strait of Hormuz caused by the Iran war.

China has ordered refineries to ignore US sanctions on Iranian oil trade

China has instructed its private refineries not to comply with US sanctions targeting companies allegedly involved in Iran’s oil trade

Spirit Airlines Becomes First Victim of Energy Crisis as Fuel Costs Spike

Spirit Airlines halts operations amid soaring oil prices and an energy crisis, leaving 17,000 jobless, as Strait of Hormuz disruptions hit global fuel supply

Russia expects $2.667 bln in budgetary revenues amid oil prices rise

The Finance Minister noted that "the levels of revenue and under-revenue over the past two months are the same"

North Macedonia starts purchasing Azerbaijani gas on regular basis

North Macedonia received gas from Azerbaijan "through the Trans-Anatolian and the Trans Adriatic pipelines, then from Greece via Bulgaria", Moscow’s Ambassador to the Balkan nation Dmitry Zykov said

The World Is Approaching the Largest Energy Crisis in History, Believes Dmitriev

The world is approaching the largest energy crisis in history and is not even aware of it, stated the head of the Russian Direct Investment Fund (RDIF), Special Representative of the President of the Russian Federation for Investment and Economic Cooperation with Foreign Countries Kirill Dmitriev.

Fico says oil prices driven by Trump’s mood as Brent hits four-year high

Slovak PM Robert Fico said oil prices depend on Donald Trump’s mood after crude hit a four-year high amid reports of Iran strike plans

Global markets left reeling by Strait of Hormuz fuel crisis, EU says, as Russia expands oil sales

EU warns the Strait of Hormuz fuel crisis leaves global markets reeling, drives fuel price spikes, while Russia expands its oil sales

Halt in oil shipments through Druzhba pipeline sparks panic in German city

Kazakh oil imports via the Soviet pipeline operated by Russia have been used to supply one of Germany’s biggest refineries providing fuel to Berlin

Japan's Taiyo Oil buys Russian oil as part of supply diversification efforts

The company representative noted that "supplies of Sakhalin Blend oil are not subject to sanctions"

Gas carrier with Indian cargo safely traversed Hormuz

ANI reported that MT Sarv Shakti carries 46,313 metric tons of liquefied petroleum gas, with twenty crewmembers on board