Oil India eyes cost optimisation as crude outlook darkens

New Delhi: Oil India is moving to optimise costs as crude prices soften and are expected to remain subdued, said its chairman Ranjit Rath.

The state-run explorer has launched several cost-reduction measures, including trimming logistics expenses, streamlining manpower deployment and fast-tracking the drilling cycle, he said. With prices likely to hover around current levels, the company has stepped up efficiency drives.