A survey of 41 economists and analysts forecast global benchmark Brent crude prices to average $42.32 a barrel in 2020, slightly down from the $42.48 forecast in the previous poll and the $42.45 average so far this year.
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The company reported net income of $202 million, down 93% from a year earlier while adjusted net income fell 72% to $848 million.
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Net profit for the state-owned company rose to 62.27 billion rupees ($842.14 million) in the three months ended Sept.30, from 5.63 billion rupees a year earlier.
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Global fuel demand slumped by more than a third in the spring. While consumption has recovered somewhat, it remains lower than a year ago with major economies resuming lockdowns to contain the pandemic.
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Brent crude futures settled lower at $37.65 a barrel, down $1.47, or 3.76%. During the session, the contract traded as low as $36.64, the lowest in five months.
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Brent crude futures were down $1.28, or 3.3%, at $37.84 by 0954 GMT, their lowest since mid-June.
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IOCL and IBM have collaborated to transform the customer experience for millions of IndianOil customers.
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Brent futures fell $2.33, or 5.7%, to $38.87 a barrel by 1:10 p.m. EDT (1710 GMT), while U.S. West Texas Intermediate (WTI) crude fell $2.45, or 6.2%, to $37.12.
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In Germany, traffic is even lower, with visits to restaurants, cafés, shopping centers, theme parks, museums, libraries and cinemas falling by 12% last week.
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Brent crude closed up 75 cents, or 1.9%, at $41.21 per barrel by 1:22 EDT (1722 GMT). U.S. oil gained $1.01 cents, or 2.6%, to $39.57. Both contracts fell more than 3% on Monday.
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