In order to lower its dependence on Russian oil and gas, Germany is looking toward Qatar to fulfill its energy needs.

The carmaker sold 600,000 fewer vehicles in 2021 than in 2020.

Oil prices rose by more than 20 percent this week, due to ongoing concerns about supply disruptions and Russian output.

Saudi energy ministry said the pre-dawn attack on the refinery in Riyadh caused a small fire that was brought under control. The ministry called the attack an act of "sabotage and terrorism".

The IMF in January cut the global growth forecast for 2022 to 4.4 percent due to the Omicron variant of Covid-19, after worldwide GDP rose 5.9 percent last year.

European benchmark Brent North Sea crude climbed 5.1 percent to $116.80 per barrel in morning deals. New York's WTI contract advanced 3.5 percent to $112.58. Both contracts had collapsed by more than 12 percent in value on Wednesday, as traders also seized on a glimmer of hope for peace talks...

Plant-based base oils are made from sustainable feedstock sources, such as palm, soy, coconut, and rapeseed.

Video shared from a children’s hospital in Mariupol hit by shelling showed a scene of complete devastation, with the wounded being evacuated, some on stretchers, past charred and burning carcasses of cars and a massive crater by the building.

The US has led a Western assault on Russia's economic lifeline by banning imports of oil and gas followed by Canada and a pledge from London.

However, Gulf countries have an interest in acting in coordination — both within OPEC, and with Russia-led allies in the OPEC+ group — to avoid a price war and keep control over the market.

Brent had spiked to $139 on Monday — about $8 short of an all-time record — in expectation of the US embargo on Russian oil and gas.

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882, while the parallel market fell 0.22 percent to 24,487.

Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil prices spike over Russia's war in Ukraine.

Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and lower financing needs in the GCC.

The White House said Monday that a US delegation held weekend talks in Venezuela with the government of President Nicolas Maduro that included a discussion of energy supplies as Washington looks for ways to reduce its imports of Russian oil. Venezuela's opposition also said it had met with the high-level...

Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT on Sunday.

Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a barrel over the ongoing crisis arising out of Russia's invasion of Ukraine.

A look at the Arab countries that are dependent on wheat imports from Ukraine and Russia.

The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.

Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one million people fleeing Ukraine. Officials have reported hundreds of civilians killed.

In the United State, it took more than a century to pass regulations governing record-keeping for wells and their sealing, or plugging, in many states.

The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the length and severity of the crisis, Moody's Investors Service said in a report.

Thanks to a spike in crude oil prices pushed beyond $100 by the Russian-Ukraine conflict, the stock markets of Saudi Arabia and the UAE posted gains in February.

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia continued to stoke supply fears. Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm. "There is...

Prince Mohammed bin Salman called for a "political solution" after the Russian invasion and also reiterated his support for the OPEC+ group of oil producers.

The German carrier said it cut its losses by two-thirds in 2021.

Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for tightening policy.

The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to release Tuesday to stabilize global markets after Russia's invasion of Ukraine, President Joe Biden said. "I can announce the United States has worked with 30 other countries to release 60...

The wave of inflation continues to put pressure on consumers not just in the United States, Europe, and the Arab world, but also in the Gulf region. Economies in the Middle East are exposed to the global price fluctuations because of heavy import dependence. Localized factors like rental deflation and...

The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.

Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound. A sudden rise could cause a shock to the Gulf economies leading to a recession.

WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.

Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia Sunday, the Saudi Press Agency reported, as Moscow faces international criticism over its invasion of Ukraine. Crown Prince Mohammed bin Salman made the comments during a conversation with French President Emmanuel Macron that also covered the situation in Ukraine...

The Museum of the Future along Dubai's main highway has been touted as the 'world's most beautiful building'.

Bahrain has a $90 per barrel breakeven oil price, so the country is moving forward with serious economic diversification plans among which is to become the Fintech hub.

As regional bourses aim to compete with developed markets, questions are also being raised over the state of reforms, the future of regulation in the region.

In Europe, the three main indices all closed more than three percent higher, recovering most if not all of the previous day's losses, as Western nations held off from imposing sanctions that would cripple critical sales of Russian oil and gas.

The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance.

GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.

Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.

Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.

Iraq is looking to partner with Halliburton Co. and Aramco to tap into oil and gas reserves in the Western Desert.

The unprecedented panel is considered a model for reconciliation that could help resolve future conflicts if necessary.

The jump in oil prices is compounding worries about inflation around the world, with the US Federal Reserve coming under intense pressure to tighten monetary policy to prevent prices from running out of control.

Saudi Aramco President and CEO Amin H Nasser urged companies and governments to continue investing in the oil sector to meet future demands.

UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at the International Petroleum Technology Conference 2020 in Riyadh, Al-Mazroui said the huge saving prompted the UAE to think seriously about using cleaner forms of energy. He said the UAE is...

It pointed to energy prices and good asset performance for the rise.

Big oil companies said their 2021 profits were $66.7 billion.

The 13 members of the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies, including Russia, had cut production sharply in 2020 as prices collapsed after the Covid pandemic emerged.

Global supplies of diesel are dwindling as refiners struggle to keep pace with rapid post-pandemic demand recovery, exacerbating an acute global energy shortage that has already sent the prices of gas, coal and crude oil soaring. At a time when global central banks are fretting over inflation rates not seen...