When one thinks of India, one does not automatically think that India is an oil producer.

However, India produces 894,000 barrels of oil a day, which equates to about 1% of worldwide oil production

So what is the value of this crude ?

Oil trades at about US$ 101.52 per barrel.

Thus:-

894,000 barrels of oil a day x US$ 101.52 per barrel = $90,758,880

Yes that is $90 million = £55 million a day.

This is very important natural resource to a country that has to subsidise the cost of oil.