Bloomberg Oil rises on signs a glut was easing with US crude stockpiles shrinking for a sixth week. The American Petroleum Institute reported crude inventories dropped by 6.36 million barrels last week, according to people familiar with the figures. That would be the longest run of declines this year if confirmed by government data. Yet, there are lingering concerns about …

Bloomberg China’s record haul of crude is poised to end as state-issued allowances for imports dwindle, potentially taking the wind out of the uneven recovery across global oil markets. The world’s biggest importer will ship in much less crude in September and October than it did in May and June, with private refiners seeing purchases drop as much as 40%, …

Bloomberg Oil & Natural Gas Corp (ONGC) posted a 92% plunge in profit after crude prices crashed, production declined and demand for natural gas took a hit from a nationwide lockdown. Net income was 4.96 billion rupees ($68 million) in the three months ended in June, compared with 59.8 billion rupees a year ago, according to a company filing. Revenue …