Crude oil varieties fell 3 percent on Friday ahead of the OPEC meet in Vienna later this week.

China imports nearly 3,63,000 barrels of crude every day and in addition to other energy imports.

Venezuela crisis is also now spiralling out of control. The output has declined to near one million barrels per day.

Metal prices have been under pressure. Copper prices are trading at two-weeks lows, aluminium prices are trading at April lows and there is 3-4 percent decline in most of these metals on Friday and that is where it is picking up on this Monday morning.