Crude oil output falls for seventh straight month

Crude oil output falls for seventh straight month

New Delhi: India’s crude oil production fell for the seventh month in eight in July, led by lower output by Oil and Natural Gas Corp. Ltd (ONGC), the nation’s largest explorer.

The country pumped 2.8 million tonnes (mt) of oil last month, 0.4% less than a year earlier, the petroleum ministry said in a statement. ONGC produced 2.1 mt of oil in July, a 3.3% decline, the data showed.

India’s natural gas output increased about 35.5% to 3.76 billion cu. m, according to the data.

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