Bloomberg India, the world’s fastest growing oil consumer, is bucking an emerging market trend of populist measures to curb surging oil prices. While governments in Indonesia, Brazil and elsewhere are cutting or freezing prices, India is standing its ground on gasoline and diesel costs even after they rose as much as 16 percent this year. India has, so far, resisted ...

Bloomberg OPEC’s Gulf members may need to pump almost as much crude as they can to cover swelling supply losses from Venezuela to Iran and beyond, the International Energy Agency said. “Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world’s spare-capacity cushion, which might be stretched to the limit,” ...

Bloomberg Exxon Mobil Corp quit the American Legislative Exchange Council, a lobbying group bankrolled by fossil fuel companies, following a disagreement over climate-change policy. The oil giant won’t be renewing its membership after it expired in June, spokesman Scott Silvestri said by phone. Exxon had a public spat with ALEC in December when some members backed by climate skeptics such ...