Oil prices rose about 1 dollar in volatile trade on Tuesday as tight global supplies outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China.

Oil prices rise as tight supply counters China COVID, recession worries

As oil prices soared amid Russia's invasion of Ukraine, Tesla chief Elon Musk in a tweet said that "we need to increase oil & gas output immediately." Hate to say it, but we need to increase oil & gas output immediately.

Hate to say it, but we need to increase oil & gas output immediately: Musk

A decision by OPEC+ to continue with an output cut would undermine consumption-led recovery and hurt consumers in oil buying nations, Indian oil minister Dharmendra Pradhan told Reuters on Friday.

India says OPEC+ decision to hit consumption-led recovery, hurt customers

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Oil prices rise as tight supply counters China COVID, recession worries

Hate to say it, but we need to increase oil & gas output immediately: Musk

India says OPEC+ decision to hit consumption-led recovery, hurt customers