Indian Prime Minister Narendra Modi and his Nepal counterpart K.P. Sharma Oli joined the inauguration ceremony by video link from their respective capitals.
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In the United States, crude stockpiles are likely to have fallen for a fourth consecutive week last week.
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India's gasoil demand will rise by an average 5.3 per cent per year through the 2025 fiscal year.
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IOC's Haldia refinery will start in December to produce 300,000 tonnes per year of marine fuels that meet the new low-sulphur specifications.
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Brent crude was up 17 cents, or 0.3 per cent, at $61.12 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude was up 16 cents, or 0.3 per cent, at $56.46 a barrel.
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Benchmark Brent crude was down 25 cents at $60.45 a barrel by 0821 GMT, while US West Texas Intermediate (WTI) crude fell 39 cents to $55.87.
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Brent crude was up 12 cents, or 0.21 per cent, at $58.38 a barrel by 0425 GMT, while U.S. West Texas Intermediate futures gained 20 cents, or 0.37 per cent, at $54.14 at barrel.
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"Oil will struggle to make substantial headway topside this week with no progress on trade talks or meetings even, soft data from Asia and a possible cracking of OPEC's resolve to control production," said Jeffrey Halley, senior market analyst at OANDA.
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