Base Oil
Base oil is a refined form of crude oil, primarily used in the production of lubricants, greases, motor oil, and metalworking fluids. Different types of base oi...
Base Oil Bytes
Daily Market Report
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China, Iran, and the Oil Market: How New U.S. Sanctions Could Reshape Trade Flows
Oil & gas product prices remain mixed, with base oils, fuel oils, and lubricants showing grade and packaging-based variations. Global sanctions and trade shifts, particularly U.S. actions against Iranian crude, are creating supply-side uncertainty. OPEC+ production increases and stable inventory levels offer a buffer, but volatility risks remain high.
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Geopolitical Tensions Drive Oil & Bitumen Prices Amid Supply Uncertainties
Petroleum and bitumen prices are on an upward trend in India amid geopolitical tensions, Red Sea disruptions, and strong domestic infrastructure demand. Crude discoveries and global policy shifts add to volatility. While Indian prices rise, European bitumen prices remain weak. Market outlook stays firm, though tempered by economic and geopolitical risks.
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Base Oil Market Remains Subdued Amid Supply Constraints and Price Volatility
Base oil prices in India remain firm despite subdued demand, supported by tight global supply and ongoing refinery maintenance. Domestic sourcing has increased amid competitive pricing. Asia’s Group I and high-viscosity Group II grades face constraints, while Group III remains competitive. Market direction hinges on crude oil trends and refinery restarts.
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India’s Russian Oil Imports Surge to 1.85 Million BPD in March Amid Sanctions Adjustments
Crude oil prices dipped slightly, with Brent at $71.91 and WTI at $68.02 per barrel. Indian refiners continue to prioritize discounted Russian crude despite sanctions, with March imports rising to 1.85 million bpd. Domestic petroleum product prices remain steady across key regions, while geopolitical factors continue to shape supply chains.
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India’s Crude Oil Imports Surge 4.7% in February, Domestic Production Declines 5.1%
Crude oil prices are showing modest gains amid OPEC+ cuts and fresh U.S. sanctions on Iran. India’s crude output continues to decline, pushing import dependence to 89.4%. Global supply remains tight. Despite optimistic trends, domestic production struggles persist, reinforcing the need for upstream investment and policy reforms.
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Base Oil Market Steady Amid Soft Demand and Geopolitical Influences
Crude oil prices rebounded amid China’s economic growth and geopolitical risks. India’s crude imports increased, with Russia emerging as the top naphtha supplier. Base oil prices remained mostly stable, though buyer sentiment remained cautious. Market volatility is expected due to global economic policies, supply chain disruptions, and geopolitical tensions.
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India's Fuel Exports Surge Amid Russian Crude Trade Dynamics
Indian refiners continue to benefit from discounted Russian crude, driving strong fuel exports to the US. Despite sanctions, Russian oil indirectly enters global markets through refined products. Regulatory scrutiny may tighten, but demand for Indian refined fuel remains high. Future trade dynamics will depend on crude prices and policy shifts.
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India Diversifies Crude Imports, Boosts African & South American Supply Amid Russian Oil Sanctions
India is diversifying crude oil imports, increasing purchases from Africa and South America while reducing Russian intake due to U.S. sanctions. Despite falling crude prices globally, domestic fuel rates remain stable, benefiting refiners.
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India’s Russian Oil Imports Dip Amid Sanctions, Supply Costs in Focus
Petroleum product prices remain stable, with base oil, fuel oil, and specialty oil rates varying by grade and packaging. Russian crude exports to India declined due to US sanctions, raising concerns over rising costs. Indian refiners are negotiating deeper discounts, while long-term supply agreements remain uncertain amid evolving global trade policies.
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