World Oil Demand Outlook Cut Again; Sub-$60 Price Seen Holding

4% Global Economic Growth Predicted to Boost Oil Price in 2015

The last 48 hours witnessed a frenzy of diplomatic activities by Balkan and Southeastern countries with both Russia and Europe, underlining the importance of this area for the ongoing if relatively silent confrontation between Moscow and Brussels/Berlin.

The head of OPEC said on Sunday the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.

China, Kazakhstan to sign $10 billion in deals including oil, infrastructure

Oil's slide to the lowest price in more than five years is carving a divide between U.S. shale drillers who heavily hedged future production and those who didn't.

Air strikes by forces loyal to Libya's recognized government on Saturday hit targets near the eastern oil ports of Ras Lanuf and Es-Sider to stop an advance by a rival force, officials said.

Mexico has unveiled long-awaited initial contract terms for the first 14 oil and gas areas it is auctioning in a historic tender round starting next year. They impose a ban on oil majors teaming up to bid and a five-block limit on bids from any company or consortium.

Halliburton Co. , the world’s second-largest oilfield-services company, said Thursday it will lay off 1,000 employees outside the U.S.

Iran's President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to regional rival Saudi Arabia, which opposed production cuts.

Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom.

Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid.

Rosneft wants to step up gas production and become the second largest gas company in Russia.

EAST EUROPE SCRAMBLES FOR ENERGY AFTER PUTIN KILLS SOUTH STREAM

Renewed pressure on crude oil prices on Monday weighed heavily on the shares and bonds sold by US energy companies