Oil tanker sets sail after blocking Suez

A Singapore-flag crude oil tanker was refloated Thursday and is headed to a nearby Saudi port after being stranded and briefly blocking the Suez Canal. Tugboats from the Suez Canal Authority released

Cyprus welcomes Russian oil embargo

Nicosia has welcomed the toughest EU sanctions against Russia for invading Ukraine, with Brussels banning oil imports to the bloc. European Union leaders have agreed an embargo on Russian oil imports that


Greece U-turn on fossil fuels

Facing public pressure from spiralling electricity and gas prices while trying to stem imports from Russia, Greece’s prime minister Kyriakos Mitsotakis made a spectacular U-turn on energy policies. Within two weeks, he

No end to rising oil prices

Ever since Russia’s invasion of Ukraine, the price of oil has been rising relentlessly. On February 24, Brent crude was trading at $95/barrel. However, following President Biden’s announcement that the US is


OPEC+ to increase oil production

The OPEC+ group of oil-exporting members plus Russia and others agreed to stick to its April 12 decision to increase crude oil production by 400,000 barrels per day every month and return