Oil prices were little changed in early trade on Thursday.
U.S. West Texas Intermediate (WTI) crude futures slipped 1 cent to $40.21 a barrel at 0146 GMT, after jumping 2.4% on Wednesday.
India has cut the price of locally produced gas for October 2020-March 2021 by about a quarter to a multi-year low of $1.79 per million metric British thermal units.
Brent crude for November delivery dropped 57 cents, or 1.4%, to $40.46 per barrel by 1005 GMT. West Texas Intermediate fell 14 cents, or 0.4%, to $39.15.