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Cairn India has dipped over 3% to Rs 236 on the NSE as oil prices slumped to new 5-1/2-year lows yesterday on worries about a surplus of global supplies and lacklustre demand.
Russia's oil output hit a post-Soviet high last year, averaging 10.58 million barrels per day (bpd), up 0.7 percent thanks to small non-state producers, Energy Ministry data showed.
Iraq's oil exports were at their highest since 1980 in December, an oil ministry spokesman said, with record sales from the country's southern terminals.
The stock opened at Rs 239 and touched a low of Rs 235. At 10:30AM, over 10,00,000 shares were traded on both the stock exchanges.
