Energy

Kuwaiti oil minister Mohamed Al-Fares also said OPEC+ was monitoring Covid-19 lockdowns in Chinese cities and any possible supply disruptions.

It comes as the European Commission is seeking a ban on all Russian oil, crude and refined, transported by sea and pipeline by the end of 2022, Commission President Ursula von der Leyen told the European Parliament.

The group agreed in July 2021 to increase its output target by 432,000 barrels per day every month until the end of September 2022 to unwind remaining production cuts.

Oil prices increased on Wednesday after the EU announced plans to phase out Russian imports following Moscow's invasion of Ukraine.

IAEA chief Rafael Grossi said the radiation levels at the Chernobyl nuclear site are currently 'abnormal' and needs to be monitored 'day by day'

The outlook for Saudi Arabia's Aramco has been ranked as positive by rating agency Fitch as oil prices continue to soar from the Russian invasion of Ukraine.

The US ambassador to Libya has urged the country's central bank to protect oil revenues as blockades on major fields and export terminals have impeded production.

The closure of Zueitina oil port will prevent Libya from exporting almost a quarter of its 1.2 million barrels per day of production.

Libya halted oil production from its El Feel oilfield on and two sources at Zueitina oil port because of disruptive protests

Former Secretary of State Hillary Clinton told US broadcasters that a 'carrot and stick' approach was needed to shift Saudi Arabia away from Russia following Moscow's invasion of Ukraine.