A major oil output cut by Saudi Arabia, Russia and other oil producers has drawn sharp accusations in Washington.

The weakening economy around the world will drive down demand for oil in the coming months, according to OPEC, while the U.S. government warns that households will pay more for heat this winter.

The 2 million bpd cut in oil production was backed by Saudi Arabia and could benefit Russia. The OPEC+ meeting took place as much of the world is battling soaring energy costs and rising inflation.

The national average price of gasoline has fallen below $4 a gallon. These are four key factors that could determine what happens next with prices at the pump.

In his visits to Israel and Saudi Arabia this week, President Biden will aim to keep the oil flowing and lock in progress on the Middle East's simmering conflicts.

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

The EU chief concedes that that getting all 27 member countries — some of them highly dependent on Russia for energy supplies — to agree on oil sanctions will be extremely difficult.

The Russian invasion of Ukraine has further fueled already high food and energy costs, hitting the poorest people hardest.

The decision comes as prices have spiked since the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

The U.S is planning its largest-ever release from its Strategic Petroleum Reserve. Here's what to know about the country's emergency oil stash.

From cutting highway speed limits to launching car-free Sundays in big cities, the International Energy Agency proposes to cut the demand for oil by as much as 2.7 million barrels per day.

With each passing day the disruption of oil markets related to Russia's invasion of Ukraine pushes up gas prices in the U.S. to a new record.

Announcements from Shell and BP will further hit Russia's tanking economy — and batter its image as a go-to place for oil and gas investments.

The U.S. is still the largest producer of oil, but we're a long way from pumping what we were before the pandemic. Blame backwardation.

Stock markets around the world tumbled on concerns about the new variant. While it's too soon to tell exactly how the variant functions, virologists are rushing to learn more.