Opec Countries

This is the level the OPEC heavyweight and its Gulf allies - the United Arab Emirates, Kuwait and Qatar - believe would encourage investment in new fields but not lead to a jump in US shale output, the sources said.

IEA says 90% compliance rate in OPEC oil output cut

"The IEA estimates ... a record initial compliance rate of 90 per cent, with some producers, notably Saudi Arabia, appearing to cut by more than required," said the IEA, which analyses energy markets for major oil consuming nations.

Oil to go to $50 by the end of the year: Analyst

"The Saudis and Russia — and even indirectly Iran— they're talking to each other, so you now have the beginning of a process," Mike Wittner, head of US commodities research at Societe General, told CNBC's "Closing Bell."

Without clarity on pricing, oil will stay a slippery space

Nipun Sharma, Research Analyst, Mirae Asset Mgmt tells CNBC-TV18 that unless the government reduces loses in the sector and provides a reliable subsidy sharing mechanism, investor interest is going to be hard to come by in the oil and gas space.

Crude may go past $120 on Middle East tension: Barclays Cap

Amrita Sen of Barclays Capital, in an interview with CNBC-TV18’s Udayan Mukherjee and Sonia Shenoy, spoke about the rumblings in the crude market.