Rising tensions in the Middle East have once again drawn attention to the Strait of Hormuz, one of the world’s most strategically important shipping routes for oil and gas.

Venezuela’s oil industry has begun a cautious recovery after nearly a decade of steep decline, but production levels remain far below their former peak.

Russia's biggest fossil fuel importers: Western nations have surprisingly retreated. Stepping into the big shoes are rather unexpected Asian powerhouses amid ongoing conflicts with Ukraine.