Benchmark indices remained under pressure in noon trade with the Sensex falling 97.90 points to 28081.18 and the Nifty down 22.15 points at 8686.80.
Global oil demand will rise by 1.2 million barrels per day (bpd) in 2017, compared with oil demand growth this year of 1.8 million bpd, International Energy Agency Executive Director Fatih Birol told reporters on Tuesday.
OPEC members and other producers such as Russia have been discussing for some months cooperation on cutting back on crude supplies to support prices that are still less than 50 percent of levels two years ago.
