Crude oil futures on Wednesday declined 1.6 per cent to Rs 6,283 per barrel as participants trimmed their positions on low demand.
On the Multi Commodity Exchange, crude oil for March delivery fell by Rs 102 or 1.6 per cent to Rs 6,283 per barrel in a business volume of 7,957 lots.
Globally, West Texas Intermediate crude oil was trading 0.24 per cent higher at USD 76.16 per barrel, while Brent crude was down 0.72 per cent to USD 82.45 per barrel in New York.