Stock Market LIVE Updates: IndusInd Bank, Titan, Axis Bank, SBI, Bajaj Finance, ONGC, ICICI Bank, L&T, HDFC Bank and NTPC were among the rising stocks on BSE Sensex. On the other hand, Sun Pharma and Bharti Aurtel were among the top laggards.

Algerian Oil Minister Mohamed Arkab, the current OPEC president, warned meeting attendees that the global oil inventory would soar to 1.5 billion barrels by the mid-point of this year

U.S. West Texas Intermediate (WTI) crude futures gained 68 cents, or 1.9%, at $37.49 a barrel. It rose to as much as $37.88, also the highest since March 6

The price of Indian basket, which went down to $16.92 a barrel on April 27, surged by 93 per cent since then to $32.63

Sensex, Nifty Live News Today: Kotak Bank, ONGC, Britannia, Shree Cements and Titan were among the top losers today, while Bharti Infratel, Adani Ports, IndusInd Bank, Tech Mahindra and JSW Steel were the top gainers on NSE today.

Oil prices today: Brent was last trading around $25.97 at barrel, while WTI was at $18.31

Coronavirus update: The slump would lead to a drop in carbon dioxide emissions of 8%, six times larger than the biggest fall of 400 million tonnes recorded in 2009 following the global financial crisis, according to the IEA, which described its estimate as conservative

While storage is rapidly filling up, production cuts by U.S. shale producers, estimated by consultants Rystad Energy at 300,000 barrels per day (bpd) for May and June, should help slow flows into tanks. The United States is now the world's biggest oil producer.

Regulators in the U.S. state of Texas, the country's biggest oil producer, will hold a vote on May 5 on whether to enact output curtailments

Some 259 rig workers disembarked on Sunday at the Gulf port city of Ciudad del Carmen, Pemex said in a statement

The economies of all the Arab Gulf oil exporters are expected to contract this year, as much as 5% in Iraq, according to the International Monetary Fund

Retail fuel prices in India have remained unchanged for weeks, as the demand is almost a fraction and the government is not able to realise the benefits from price fall

Coronavirus impact: Even as May futures steeply fell, the June futures continued to trade above $20 per barrel on Monday.

In New York, West Texas Intermediate fell as much as 43.8 per cent to $10.26 a barrel, the weakest level since 1986

Forecasts from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency on the outlook for oil consumption have reinforced the bearishness.

OPEC said in a monthly report it now expects global demand to contract by 6.9 million barrels per day (BPD), or 6.9%, in 2020 and noted the reduction may not be the last

India is expected to post a sharp turnaround and resume its pre-COVID pre-slowdown trajectory by growing at 7.4 per cent in 2021-22, says RBI Governor

Organization of the Petroleum Exporting Countries, along with Russia and other producing countries - known as OPEC+ - agreed over Easter to cut output by 9.7 million barrels per day (bpd) in May and June, equal to about 10% of global supply before the viral outbreak

The Saudi energy minister downplayed the move in oil prices on Monday, saying anticipation of the cuts was the reason for a rally in oil prices before the meeting. Since dipping below $22 a barrel two weeks ago, Brent has rebounded by roughly 48%.

All indices in Asia turned red, with Nikkei and Kospi dropping 2% after the OPEC+ decided to cut 20% global supply of oil to curb fall in price amid virus outbreak.