Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers

Oil prices rose as Russia and Ukraine exchanged missile strikes, overshadowing the impact of a larger-than-expected increase in U.S. crude inventories

The OPEC+ alliance aims for price stability in the oil market, not endless increases, and so far, it is achieving this, said Russian President Vladimir Putin

Russian oil production, excluding gas condensate, fell to 8.59 million barrels per day in May, near country’s target under an OPEC+ pact, the energy ministry said