They have the broad outlines of a deal after Russia and Saudi Arabia agreed over the weekend to extend their cooperation into 2019, but details are lacking
While Qatar is one of Opec's smallest oil producers, when compared to the likes of the cartel's de facto leader Saudi Arabia, it is one of the world's largest producers of liquefied natural gas (LNG)
The decision to withdraw from OPEC came after Qatar reviewed ways plan its long-term strategy
US West Texas Intermediate (WTI) crude futures were at $53 per barrel at 0125 GMT, up $2.07 per barrel, or 4.1 per cent from their last close
Oil spiraled to its worst monthly loss in a decade in November, beset by worries about a looming global supply glut
While the commodity has fallen significantly in the short term, reports of slowing global growth and likelihood of Opec cutting output in its December 6 meet aren't allowing recovery
According to the ratings agency, if the organisation of the petroleum exporting countries (Opec) and its allies decide to hold their supply, oil prices are likely to rebound
US West Texas Intermediate (WTI) crude futures, were at $53.83 per barrel at 0029 GMT, 80 cents, or 1.5 per cent below their last settlement
Since hitting a four-year high in early October, crude prices have now crashed about 30 percent
Imports rose as many refiners resumed purchases after maintenance of units
Analysts said rise in crude oil futures was largely in tandem with prices rising in global market
Overseas holdings have risen Rs 80.1 billion ($1.1 billion) in the previous three weeks, data from the Clearing Corporation of India Ltd. show
Oil prices are being hit by the double whammy of rising supplies and demand concerns
Analysts said expectations of an economic slowdown in coming months was outweighing supply-side risks to crude markets
The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump
India close to winning US sanction waiver on Iran oil
That slump appears to be over after crude's recent gains amid supply threats across the globe
India's sovereign bonds, which have dropped in 10 of the previous 12 months, rebounded in the past three days
Russia is pumping record volumes of crude and Saudi Arabia is almost there too
Fuel prices reached a four-year high last month, concentrating consumers' minds on the relative costs of internal combustion versus electric motors