Due to the structural oversupply that has emerged in the market from record production by many countries, Morgan Stanley said that OPEC cuts are inherently temporary.

Oil prices were seen climbing to $100 per barrel when sanctions on Iran's oil and gas sector came into effect on November 5. But prices have reversed direction during the last 12 straight days.

Since 2000 around half a billion people have gained access to electricity in India, with political effort over the last five years significantly accelerating progress, says the global energy agency.

The entry of heavy and medium goods vehicles into the national capital was banned for three days beginning 11 pm on Thursday night due to concerns over the air quality in the national capital.