International spending could fall 11 per cent in 2016, with the Middle East still the lone source of strength as spending there is expected to rise 6 per cent: Barclays
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The $30 mark is both a psychological and financial threshold and, in recent days, traders have poured money into $30 put options for expiration in February and March.
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There will be no cut in capital expenditure in oil and gas projects as such investment will help the company sustain or increase output, company says.
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Prices are down around 20 per cent since the start of the year, dragged lower by soaring oversupply, China's weakening economy and stock market turmoil
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The 345.55 billion-rupee refinery is IOC's most advanced plant that can process the heaviest and dirtiest crude oil available at a cheaper rate
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Traders and investors have wondered how long and deep the slide may go with Goldman Sachs saying oil could hit $20 a barrel
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Goldman's drastic scenario was based on the logic that the market might have to undergo a $20 per barrel price shock in order to force an acceleration in the shutdown of unprofitable production
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A move to limit export growth would be a major shift in Iran's policies in an environment when most OPEC and non-OPEC producers are fighting for market share despite a growing global oil glut
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