"The Kingdom's oil policies are rooted in responsibility, and Saudi Arabia is seeking to maintain that balance while also giving heed to moderate prices for producers and consumers,"

With income falling, the 13 members of the Organization of the Petroleum Exporting Countries (OPEC) posted a combined current account deficit of $99.60 billion in 2015, compared with a surplus of $238.10 billion in 2014.

The 400-kilometer pipeline, stretching from Iran to Oman is defined in two onshore and offshore sections. Land part of the gas pipeline extends for 200 kilometers from Rudan to Mobarak Mount in southern Hormozgan province. The seabed section between Iran and Sohar Port in Oman will stretch for another 200 kilometers.

In 2015 global demand for primary energy grew by only 1%, significantly slower than the 10-year average. This reflected continued weakness in the global economy and lower growth in Chinese energy consumption as the country shifts from an industrial to a service-driven economy.

Modi also met Qatari businessmen and encouraged them to invest more in India, calling it "a land of opportunity." The Qatar Investment Authority has several large-scale investments in India, including a more than $1 billion stake in telecommunications company Bharati Airtel. Qatar Airways has expressed interest in expanding its routes to India and in buying a stake in budget airline IndiGo.

"The fact that OPEC agreed on its new management shows they want to regain their coordinating role. The cartel will perform market management again," Alekperov, chief executive of Russian energy firm Lukoil, said after meeting Falih and Iranian Oil Minister Bijan Zanganeh separately in Vienna.

"The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA,"

У России и Катара имеется значительный потенциал для дальнейшего расширения бизнес-кооперации и выразил готовность оказывать всестороннее содействие и поддержку бизнес-сообществу двух государств. "Мы ставим задачу увеличить торговый оборот до 500 млн долларов США", - подчеркнул Александр Новак.

Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time next week, it can argue convincingly that its strategy of squeezing rival producers is succeeding.

Leviathan, one of the largest offshore discoveries of the past decade, was found in the eastern Mediterranean in 2010 and has been mostly earmarked for exports.

Saudi Arabia’s debt plans come as falling oil prices encourage other Gulf countries, including Abu Dhabi and Oman, to turn to capital markets for funding, setting a new record for borrowing by Middle Eastern governments so far in 2016. This week, Qatar said it was looking to tap dollar bond markets for the first time in five years.

Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.

Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.

Russian state-owned oil and gas giant Gazprom is currently working to create a liquefied natural gas (LNG) distribution hub in Bahrain. The hub will be meant to intake LNG from various sources, including Russia.

The International Monetary Fund said it was encouraged by the efforts of Saudi Arabia and other Gulf Arab oil exporters to repair damage to their state finances as low crude prices slash export revenues.