Oil prices tumbled more than $2 a barrel on Thursday as the European debt crisis threated to hit France and Spain, while Italy's borrowing costs remained at unsustainable levels.

A ministers' panel to consider raising prices of subsidised fuels - diesel, kerosene and cooking gas - is unlikely to meet this month, an oil ministry source said on Thursday, as the winter session

State-run oil firms have decided to cut petrol prices, excluding local tax, by 1.85 rupees per litre from Wednesday.Petrol will now cost Rs 2.22 less in New Delhi, a source has told Reuters. The cut

Petrol price may be cut by about Rs 2 a litre from Wednesday.A decision is expected to be taken in a meeting involving oil firms on Tuesday.

Goldman Sachs on Monday maintained its overweight recommendation for commodities on a 12-month horizon, despite the continuing European crisis. Niira Radia's dramatic exit"Confidence in this view

India is considering a 10 percent stake sale in state-run explorer OIL India, likely in the next fiscal year that begins in April, a company source told reporters on Monday.

Goldman Sachs on Monday maintained its overweight recommendation for commodities on a 12-month horizon, despite the continuing European crisis. Niira Radia's dramatic exit"Confidence in this view

Reliance Industries Ltd said it had restarted a 330,000 barrels per day crude distillation unit at its Gujarat refinery on Thursday.

State-run retailers may cut petrol prices from Nov. 16, an industry source said, the first cut in nearly three years and the first in the 18 months since the government ended controls. The cut