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    • See crude at $60 a barrel by next year end: Capital Economics

      Crude prices are likely to see further weakness this year, says Thomas Pugh, Commodities Economist at Capital Economics in an interview to CNBC-TV18.

    • Oil imports from Saudi Arabia down 8%

      Crude oil import from Saudia Arabia was cut to 34.99 million tonnes in the year to March 31, 2015 from 38.18 MT in 2013-14, Oil Minister Dharmendra Pradhan said on Monday.

    • OPEC pumping at highest level since Aug 2012: IEA

      OPEC supply in May edged up to 31.33 million barrels a day (mb/d), according to the IEA, with Saudi Arabia, Iraq and the United Arab Emirates pumping at record monthly rates to keep output 1 mb/d above OPEC's official supply target for a third month running.

    • Is $60 the new normal for oil?

      Weak global economic growth momentum and a supply glut will cap oil prices at around USD 60 for the rest of 2015 and into 2016, analysts say.

    • US shale has 'blinked' in battle against OPEC: IEA

      US oil producers appear to have lost their battle with OPEC (Organization of the Petroleum Exporting Countries) over market share, but the war is only just beginning, the International Energy Agency (IEA) warned Wednesday

    • India keen to diversify oil exports, buy crude from US

      The new strategy is being planned to guard against disruption in supplies from its biggest sources in the Middle East - Iraq and Syria -- as they are caught in problems relating to Islamic State movement.

    • OPEC to hike output, Iran proposes compromise

      OPEC producers on Wednesday hammered out a deal to raise oil supplies for the first time in four years to support the fragile world economy.

    • Global slowdown in 2012: China expert

      The global economy may slow down or even fall into recession again in 2012, Lou Jiwei, the head of China's USD 300 billion sovereign wealth fund, said on Saturday.

    • China trader signs 2011 Iran crude deal, vol steady

      Chinese state oil trader Zhuhai Zhenrong Corp has agreed with National Iranian Oil Company to buy 240,000 barrels per day of Iranian crude for 2011, the same amount as last year, a source with direct knowledge of the deal said.

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