With crude prices now averaging below $65 a barrel for a while, a potential hike in excise duty on petrol and diesel in Budget 2026 could pose a risk to India's OMCs, MOFSL said.

Oil prices have extended losses after US President Donald Trump signaled that he may hold off on attacking Iran for now.

On Venezuelan crude, Sahney said fresh supplies are unlikely to reach India anytime soon, despite Indian refineries being technically capable of processing it.

Indian Oil Corporation expects global crude prices to remain near current levels due to adequate supply, despite geopolitical risks, its chairman AS Sahney said at Davos 2026. He noted that a weaker ...

Indian Oil plans to boost Brazilian crude purchases in FY27 as Russian imports slow, marking a strategic shift in India’s oil sourcing and energy security strategy.