India’s economy expanded at a faster pace in financial year (FY) 2016[1] even as a number of its growth engines stalled. Agriculture – having faced two consecutive drought years – rural household consumption, private investments, and exports have not performed to potential. The oil bonanza most directly benefited the government, which for the first time in five years exceeded its revenue collection targets and used the resources to contain the fiscal deficit, transfer more resources to states, and spend more on infrastructure. Capital spending by the central government was ramped up, its efforts amplified by state governments that had additional resources from larger fiscal devolution.

“This is a critical opportunity for Indonesia to implement further reforms that will enhance the competitiveness of its manufacturing and services sectors, especially tourism. In addition to ongoing reforms, a sound industrial strategy will be key, focused on technology transfer or capacity development in terms of product design, engineering and development in promising industries. To upgrade industries and climb the technological ladder, a strong partnership with the private sector will be crucial,”

With oil prices forecast to remain low, Azerbaijan’s growth and fiscal position are likely to weaken further in 2016, posing significant risks. Financial sector vulnerabilities and an underdeveloped macroeconomic policy framework are further adding to the country’s challenges.

The U.S. crude benchmark rose 2.9% to settle at $49.37 a barrel on the New York Mercantile Exchange, while the global Brent contract gained 3% to end at $50.65 a barrel on the ICE Futures Europe. Both contracts were rebounding after a six-day losing streak.

The California-based fund manager, which is among the largest shareholders of natural resources groups including BP Plc, Total SA, Glencore Plc and Chevron Corp. through dozens of funds, believes that $50 a barrel isn’t high enough to stimulate the increase in supply needed to meet future oil demand.

“Now is our chance, and we have a window of three or four years to act,” before the balance of supply and demand might change, said Ken Koyama, a managing director and senior economist at Japan’s Institute of Energy Economics, which advises the Japanese government on energy policy.

Since January, nearly $2 billion has been raised by Canadian non-oilsands producers on equity markets, but most of it has been geared to paying down debt or funding acquisitions, not for drilling new wells

"Рыночные инструменты работают. Общее недоинвестирование — порядка 550 миллиардов долларов за последние 3 года. Это огромный уход инвестиций. Мы видим даже риски того, что через несколько лет возникнет недостаток нефти из-за недоинвестирования и растущего спроса", - отметил Министр энергетики.

Стоимость добычи нефти в России – $2 за баррель. Увеличить добычу нефти в 2015 г. удалось благодаря новым проектам, которые были запущены с поддержкой государства. В России уникальная ресурсная база, отметил Сечин. Это позволит удержать добычу стабильной до 2035 г.

Gazprom's accumulated after-tax dividends will total USD 6.9 billion by 2045. Over the next 25 years, gas deliveries via Nord Stream 2 would be 2–2.7 times more economically efficient than the ones via Ukraine's GTS, which translates into USD 45–78 billion.

Russia’s oil industry is “very resilient,” BP Plc CEO Bob Dudley said in St. Petersburg on Thursday. The nation’s resources are competitively priced and floating the currency has been helpful for costs, he said while announcing a new exploration joint-venture with Rosneft.

U.S. Rig Count is up 10 rigs from last week to 424, with oil rigs up 9 to 337, gas rigs up 1 to 86, and miscellaneous rigs unchanged at 1. Canadian Rig Count is up 4 rigs from last week to 69, with oil rigs down 1 to 28, gas rigs up 4 to 40, and miscellaneous rigs up 1 to 1.

Brent crude futures' front-month contract LCOc1 settled up$1.98, or 4.2 percent, at $49.17 a barrel. The front-month in U.S. crude's West Texas Intermediate (WTI) futures CLc1 rose $1.77, or 3.8 percent, to settle at $47.98. It fell $1.80 in the previous session.

Crude oil prices rallied to a 2016 high above $51/bbl in June, stoked by continuing outages in Nigeria and Canada as well as a steady decline in US oil production. May marked the third straight month of average price rises in Brent and WTI futures.

The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production.