For the April-September period, India’s LNG imports were 12.7bn m³, up almost by 27% on year.

However, Russian oil and natural gas companies’ capital investment programs have been less affected, if at all.

The economic consequences of cheap oil have been severe for Saudi Arabia. Riyadh is burning through foreign-exchange reserves, government contractors have gone unpaid, and civil servants, who make up two-thirds of the labor force, will get no bonus this year. The country’s fiscal deficit is more than 10 percent of gross domestic product, the highest ratio of any Group of 20 nation. The International Monetary Fund forecasts that Saudi economic growth will slow to about 1 percent next year, the worst since 2009. A few banks predict a recession.

ROSATOM - "Historically, India is one of our key foreign partners. Two power units of Russian design are already operating on the Kudankulam NPP site and two more are under construction. To increase the state corporation's market presence, it was decided to open a regional center in Mumbai. This will enable us to join forces with our Indian partners and enhance the performance of Russian nuclear enterprises operating in India," said Aleksey Pimenov, the Regional President of Rosatom South Asia.

We expect global GDP to more than double over the next 20 years, while energy demand increases by only 30%. The difference between those two things is improving energy efficiency or declining energy intensity. That is critical in underpinning the shift we expect to see in the rate of growth of carbon emissions. We think the energy intensity of GDP will decline much more rapidly than we’ve ever seen before.

Many nations are willing to join OPEC in cutting production to secure a continued improvement in oil prices, said Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih.

An oasis of calm in a hot region, the UAE is at once a critical geo-market and the ideal gateway to the most important oil and gas region in the world.

Brent crude oil prices are forecast to average $43/barrel (b) in 2016 and $51/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent in 2016 and in 2017. The current values of futures and options contracts suggest high uncertainty in the price outlook. NYMEX contract values for January 2017 delivery traded during the five-day period ending October 6 suggest a price range from $37/b to $68/b encompasses the market expectation of WTI prices in January 2017.

World oil demand in 2016 is seen increasing by 1.24 mb/d to average 94.40 mb/d. Positive revisions were primarily a result of higher-than-expected demand in the Other Asia region, while downward revisions were a result of lower-than-expected performance from OECD America. In 2017, world oil demand is anticipated to rise by 1.15 mb/d, to average 95.56 mb/d.

With hundreds of millions of people living without electricity in the world's poorest continent, African countries are increasingly turning to gas to take advantage of lower global LNG prices amid a supply glut.

Russian oil production continuing its slow climb for at least the next five years.

Demand for land rigs will rise 29 percent next year to 579, the S&P Global Platts unit said in a report released at the Benposium East conference in New York on Wednesday. Platts RigData forecasts average West Texas Intermediate crude prices to climb 23 percent to $52.18 a barrel in 2017. The Henry Hub natural gas benchmark is seen increasing 26 percent to $3.05 per million British thermal units.

Prices may jump more than 35 percent from current levels as they start to reflect the risk of a supply squeeze, according to Citigroup Inc. and trader Gunvor Group.

“We see 2017-2020 as still having the potential for much higher prices. After 2020, there is a high risk that electric vehicle penetration will change the oil market forever.”

The collapse of oil prices has forced Canadian and global producers to slash costs and curtail investment over the past two years. Even after a rebound from a 12-year low earlier this year, oil futures in New York are still about 60 percent down from their 2014 peak. Prices have been mostly stuck in the $40-$50 range for the past four months.