Global supply is staying in excess of demand.
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
Saudi Arabia relies more heavily on migrant labour than any other large country.
'As matters stand, Russia and Saudi Arabia, two of the world's biggest oil producers, are set for a hard landing as they didn't diversify their economies as much as they should have when the oil prices were booming.'
'Unlike Dr Manmohan Singh, who quailed and turned away because the darkness was too frightening, Modi has taken a leap to the other side. He deserves applause for this fearlessness,' says Aditi Phadnis.
He was merely responding to the changing currents in the region, which, unfortunately, are not favourable to the Palestinians, says P R Kumaraswamy.
From the Syrian civil war to the Ukrainian crisis to the terror unleashed by the dreaded Islamic State, there was no lack of news in 2014. Rediff.com presents a selection of the year's most enduring moments year from around the world.
Traders have all but given up attempting to predict where the new-year rout will end
Images from the ICC World Cup quarter-finals played between India and Bangladesh at the MCG on Thursday.
India edged out Bangladesh by one run in a thrilling World Twenty20 match on Wednesday to keep alive their hopes of reaching the semi-finals.
Some of the best photographs, clicked across the globe in January.
Mahendra Singh Dhoni was all praise for young Hardik Pandya, who held his nerve during the last few moments and executed the instructions brilliantly by not bowling a yorker to Shuvagato Hom, which could have turned into a full-toss.
For India, who are considered as title contenders, a good showing in the Asia Cup will give them the much-needed boost going into the World T20.
'I am hoping that now with the strategic status of our relationship, the Indian voice will get heard in Saudi Arabia,' says Ambassador B S Prakash.
The United States has increased security at all its major airports and railway stations, and has taken a number of measures, that include temporary closure of its 22 diplomatic missions, following a "very specific" Al Qaeda threat emanating from the Arabian Peninsula.
The US #DeepState has had a fine run, but will now discard Saudi Arabia as it is no longer useful to them, says Rajeev Srinivasan.
A section of the media referred to Dr Sabeel Ahmed, brother of the Glasgow Bomber (Kafeel Ahmed) as the 'motu doctor', alleged to be involved in the plot to kill prominent Hindus leaders across the country. The man himself now informs that this is far from true. Read the letter
Just for a moment, says Kamaraj Gopalan, consider the possibility: Dawood Ibrahim captured a few days before the next general election. It would be Dr Singh and the Congress's Osama moment. What answer could Narendra Modi possibly have to that?
The State Department last week issued a worldwide travel alert warning Americans that Al Qaeda may be planning attacks in August, particularly in the Middle East.
Ajinkya Rahane paced his innings to perfection in the company of comeback man Robin Uthappa, as India cruised to a seven-wicket victory over Bangladesh in a rain-truncated first One-Day International in Mirpur, on Sunday. Chasing a target of 273 in 50 overs, India were cruising at 100 for one in 16.4 overs when the heavens opened up, leading to play being stopped for nearly two hours.
Saudi club Al-Hilal have furiously demanded a formal probe into the appointment of the referees for the Asian Champions League final, which they lost 1-0 on aggregate to Australia's Western Sydney Wanderers last weekend.
It is time to throw an outer ring around India's national security by proactively engaging in areas immediately outside our neighbourhood. Such a ring will not only insulate India from emerging threats, but also create new leverage in securing our own neighbourhood, says Nitin Pai.
'For its part, Pakistan often gives safe haven to agents of chaos, violence, and terror.'
We take a look at Time magazines top world leaders.
'Pakistan may feel emboldened to give an upswing to the proxy war in J&K, having secured a better international consensus on its strategic importance.' 'The raising of Pakistani flags by separatists in J&K is an attempt to win psychological space and more of this can be expected as we go into the summer.' 'Pakistan should remain warned that pushing India on this issue will be dangerous.'
The winds of revolution are blowing all over the Arab world. A bit, slowly in Saudi Arabia, perhaps, but nevertheless. Some women did drive, defying the ban and were duly arrested. But the day is not long, may be, just another century at most, when women can actually drive, in women-only lanes, of course, says B S Prakash.
"Saudi Arabia continues to be a land of opportunity for Indians. Indians have benefited the most from the amnesty scheme as 1.4 million people got their residency and work status legalised," says Faiz Ahmad Kidwai, Consul-General of India, Jeddah, Saudi Arabia.
It is easy to foretell that negotiating a comprehensive and final agreement on the Iran nuclear issue is by no means an easy task. It involves hard negotiations, but the hardest step has been taken, says Ambassador M K Bhadrakumar, who was among the first group of foreigners to visit the the top-secret Arak plant hidden behind barren mountains south of Tehran.
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