WorldOil Rising oil portends long pause as India prepares for rate review After long undershooting its predictions, data on Monday showed consumer prices rose the most in seven months. The pace may only accelerate due to rebounding global oil prices. Regional Report: India India’s growing population, urbanization countering efforts to reduce dependency on imports Oil turns from Modi's blessing to burden, threatening economy Narendra Modi’s first term as leader of the world’s fastest-growing oil market coincided with the biggest price crash in a generation. Crude’s rebound into a bull market is set to test the Indian Prime Minister as he gears up for re-election in 2019. Indian oil demand to bounce back in 2018, says ESAI Energy India’s consumption of oil products will accelerate in 2018 after unusually slow growth in 2017, according to ESAI Energy’s newly published Asia Watch Products. India can't drill solo to meet oil supply goals, Wood Mac says India needs overseas help to raise production from its aging oil fields and meet its goal of lowering crude imports by 2022, according to consultant Wood Mackenzie Ltd. Saudi Aramco plans "mega investment" in world's top oil guzzler Saudi Arabia’s state-owned oil giant has “mega investment” plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Co.’s CEO. Reliance Industries awards Schlumberger deepwater contract in India OneSubsea, a Schlumberger company, was award a contract by Reliance Industries for supply of the subsea production system for the R Cluster project, offshore India. India plans larger oil auctions as Modi pursues import cuts India will offer larger areas with higher oil and natural gas reserves in the next auction of discovered fields later this year as Prime Minister Narendra Modi’s government seeks to curtail rising crude oil imports. Flood-hit India's oil demand falls the most in 14 years India’s oil consumption in August shrank 6.1%, the most since April 2003, as floods ravaged several parts of the country curbing demand for diesel and gasoline. India swaps cheaper LNG for more volume in second reworked deal with Exxon Petronet LNG Ltd. has reached an agreement to rework a liquefied natural gas supply agreement with ExxonMobil Corp., the second such renegotiation by the Indian company for gas supplies after reaching a similar deal with Qatar.