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The oil market turmoil dragged down Russia’s national currency, which fell sharply against the US dollar and the euro.

Oil has plunged nearly 30% as Saudi Arabia cut its official selling price (OSP) after OPEC’s supply cut pact with Russia collapsed. Over the weekend, Saudi Arabia had cut its OSP for April for all crude grades to all destinations by between $6 and $8 per barrel. The world’s second-largest …

A member of Iranian Parliament’s economic commission says the move by the Financial Action Task Force (FATF) to place Tehran on its blacklist has no impact on the country’s economic ties with others. Speaking to Mehr correspondent on Monday, Mohammadreza Pourrahimi, a member of the Iranian Parliament’s economic commission, said …

The OPEC+ alliance’s dramatic failure to reach an output deal is most obviously being felt in oil futures, which plunged the most since 2008 in London. A look at the less-conspicuous corners of the market reveal the scale of the impact. The potential collapse of the group led by Saudi …

Prices will fall until either Moscow or Riyadh call off the endurance contest.

Saudi Arabia plans to increase its crude oil output next month to more than 10 million barrels a day in response to the collapse of its OPEC+ alliance with Russia, Bloomberg News reported on Saturday. Brent slid to its biggest daily loss in more than 11 years on Friday after …

Libya was currently producing around 121,000-123,000 b/d because of the blockade.

Russia's oil output increase will now hinge on companies' plans.

Many shale producers are highly exposed to the current low oil prices.

China is deciding to ramp up solar capacity.