Indian Oil Corp Ltd, the country's top refiner, posted an 82.7 per cent slump in second-quarter profit on Thursday, missing estimates widely, due to higher inventory losses and lower refining margins.

Indian Oil profit tanks 83% as refining margins shrink

India's fuel demand rose 2.8 per cent in August compared with the same month last year but was at their lowest level in nine months. Consumption of fuel, a proxy for oil demand, totalled 17.

India's fuel demand rises 2.8% in August, at nine-month low

India's fuel demand rose 3.3 per cent in July compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.58 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

India's fuel demand rose 3.3% in July

India, the world's third-largest oil consumer, used 35.2 million tonnes of diesel during January to May this year, up 6 per cent from the corresponding period last year

India's petrol, diesel demand rise to record highs in May