Get news and stories on oil and its production. Crude oil is a naturally occurring unrefined petroleum product and consists of hydrocarbon and other organic materials. Oil is used for the production of gasoline, diesel, etc. Check out news and articles on RT about different crude oil products. Today, oil is one of the most important elements of people’s lives and the economy. The top oil producers include Russia, Saudi Arabia, the US, Iraq, and Iran. Find news and updates on the economy, including the leading oil producers and the most recent oil prices. The price of oil significantly influences world stock markets, as increases in oil prices usually leads to increases in expenses for most enterprises and forces consumers to pay more money for the petroleum. Follow RT for the price of oil and its influence on international markets. Instability in oil prices often leads to political disputes and crises, especially in the Middle East. Don’t miss the news and articles on this matter.