Bloomberg Iran’s biggest oil buyer in India is ready to throttle back imports from the Persian Gulf nation once a new supply deal kicks in. Essar Oil Ltd. expects to lower purchases from Iran after shipments from OAO Rosneft begin once the Russian state producer completes a deal to buy a stake in the Indian company, according to Lalit …

  Bloomberg SM Energy Co.’s $980 million purchase of drilling rights in the biggest U.S. crude field indicates producers are willing to pay a premium for access to one of the few spots where oil exploration still turns a profit. SM, which extracts oil and natural gas from the Rocky Mountains to the Gulf Coast, agreed to pay the equivalent …

  Bloomberg India’s central bank Governor Raghuram Rajan left interest rates unchanged at his last policy review as food prices threaten to push inflation above the nation’s target. The benchmark repurchase rate will stay at a five-year low of 6.50 percent, the Reserve Bank of India said in a statement in Mumbai on Tuesday. The move was predicted by 27 …