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Brent Crude Slides to 106.50 as OPEC Plus readies more supply and India faces fuel shock
Economy
Published on 13 May 2026
India’s OMCs are losing ₹1000 crore daily anyway
Brent crude eased to around $106.64 per barrel as OPEC+ signaled higher output of 188,000 barrels per day from June 2026. Yet India’s state-run oil marketing companies are still bleeding money, with estimated daily losses of about ₹1,000 crore as global prices stay high while domestic fuel rates remain frozen. Analysts warn a fuel hike could be next.
- Brent slips to roughly $106.64 after OPEC+ production plans
- OPEC+ output increase starts June 2026 at 188,000 bpd
- India’s OMCs face major losses despite softer oil benchmarks
- Domestic price freezes may pressure fuel pricing soon
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This summarization was done by Beige for a story published on 
Republic