Oil Producing Countries

India is the world's third-biggest oil importer and consumer and meets almost 85 per cent of its oil requirements from overseas

Brent crude rose $2.81, or 2.8%, to $101.89 a barrel at 0738 GMT on Friday, after climbing to as high as $101.99

Brent crude futures rose 39 cents, or 0.4%, to $91.80 a barrel at 1015 GMT, while U.S. West Texas Intermediate crude gained 45 cents, or 0.5%, to $90.33 a barrel

We are approaching an energy inflection point in the global economy: plentiful oil supply, a demand plateau by 2030 and more competitive renewable-energy options

The six-nation Gulf Cooperation Council (GCC) - whose net financial wealth the IMF estimates at $2 trillion - accounts for over one fifth of global oil supply

"The OPEC+ countries face a major challenge in 2020 as demand for their crude is expected to fall sharply," the Paris-based agency said in a monthly report

Barkindo said consultations were under way for the extension of the OPEC-led pact beyond March 2018