India’s crude output declined for the third straight year, pressured by aging fields and lower yields, government data showed.
India’s crude oil production fell 3% in the fiscal year ended March 31, 2026, marking a third consecutive annual decline. The drop reflects natural depletion in mature and aging oil and gas fields, according to government statements to Parliament.
Output has steadily decreased over the past three years, contrasting with India’s rising energy demand. The government recently launched initiatives to boost offshore exploration, aiming to reverse the trend.
No immediate market reaction was reported, though sustained declines could increase reliance on imports and pressure energy sector margins.