US West Texas Intermediate (WTI) crude futures were at $51.40 per barrel
The shale revolution has transformed oil wildcatters into billionaires and the US into the world's largest petroleum producer, surpassing Russia and Saudi Arabia
An Opec meeting scheduled to take place this week is expected to come up with a supply cut to arrest the drop in prices
Prices retreated slightly after Qatar said it was leaving OPEC
The rupee was the only emerging-market Asian currency that weakened Monday as Brent prices rallied 6.2 per cent to $62.4 per barrel
The damage would be particularly severe in states like Texas, Oklahoma and North Dakota that voted for the president
Despite the firmer prices, crude oil has lost almost a third in value since early October because of an emerging supply glut following a global surge in production, including from the United States
After reaching a four-year high in early October, crude has collapsed more than 30%, marking the worst crash since 2015
WTI hit as low as $49.41 per barrel, the lowest point since October last year
Opec and non-Opec producers meet in Vienna next week to discuss a new round of supply cuts of 1 million to 1.4 million barrels per day and possibly more to prop up prices
Opec meets in Vienna on December 6 to discuss output policy together with some non-Opec producers, including Russia
Oil prices have lost almost a third of their value since early October
RBI should guard against rupee volatility if forex inflows resume
There weren't many sectors with great results in Q2 but energy turnaround could change equations for Q3
The Organization of the Petroleum Exporting Countries is expected to curb output, rising US oil supply has fueled persistent concerns about a global surplus
Iran breather brings down retail prices by 4-5%
Oil prices have shed a fifth of their value over the past month due to oversupply and signs of a softer-than-expected impact from sanctions on Iranian crude exports
Iran waivers and tweets at OPEC producers created glut: Morse
Oil prices were hit on Monday after U.S. President Donald Trump put pressure on the Organisation of the Petroleum Exporting Countries not to cut supply to prop up the market
Merrill Lynch says US crude production will break through 12 million bpd in 2019