A model oil pump with miniature barrels in the background
OPEC expects global oil demand will grow by 4.2 million barrels per day on average next year as economic activity ramps up.
Lebanon electriic
A shipment of fuel is set to arrive in Lebanon this week as part of a deal, which it is hoped will alleviate the chronic energy problems plaguing the country.
iraq oilfield
France's TotalEnergies has signed a $27-billion contract to invest in oil, gas and solar energy production in Iraq in an apparent bid to end the country's reliance on fossil fuels
Turkey's Energy and Natural Resources Minister Fatih Donmez (2nd R) meets Minister of Oil & Gas of Libya Mohamed Ahmed Mohamed Oun (2nd L) in Ankara [Getty]
Libya's oil minister said on Sunday that he was suspending the head of the state oil company, escalating a dispute between the two.
Algeria - GETTY
The North African country's energy minister said his country met its OPEC+ production agreement in August by 110%.
OPEC+ raised its 2022 oil demand growth forecast following calls from the US to increase oil production to combat climbing gasoline prices that could threaten global economic recovery.
Israel's top diplomat in Dubai has said he is hopeful a deal to ship Emirati oil will clear environmental hurdles as trade booms after the groundbreaking opening of ties
Israel's first consulate in Dubai expressed his hopes for an Israeli-UAE oil deal to be finalised after environmental checks are made, adding that he expects a multimillion-dollar trade boom between the two countries after normalising ties.
Hassan Nasrallah - Getty
Announcing a third Iranian fuel ship for Lebanon, Hezbollah chief Hassan Nasrallah said 'our words will be clear when the first vessel reaches Lebanon'.
The tanker, which left Iran for Lebanon on Thursday, contains 'fuel for the power grid', according to the monitor.
The increase in 95-octane gasoline prices would take effect immediately, the government said in a statement. It follows the state's decision on Saturday to change the exchange rate used to price petroleum products in a bid to ease the shortages.