Roadgrip Bitumen (VG30) in Kandla

India’s petrochemical market remains resilient despite global oversupply and weak margins, driven by strong demand in EVs, solar, and infrastructure. Domestic refiners like BPCL and IOC benefit from integrated production, reducing cost pressures. While China’s slowdown impacts global trends, India’s $87 billion investment pipeline ensures long-term growth and market stability.

India’s crude oil import bill rose by 2.7% in FY25 due to higher demand and reduced Russian crude discounts. Refiners are diversifying sourcing, increasing US oil and LNG imports. Geopolitical tensions, OPEC+ cuts, and price volatility continue to impact costs. Market trends indicate a shift toward energy security and diversification.

Roadgrip Bitumen (VG40) in Mangalore is priced at ₹38,559.32/MT, while Roadgrip Bitumen (VG30) in Mundra is available at ₹38,300/MT. In Chennai, Refinery Bitumen (VG30) is priced at ₹45,352/MT, and Refinery Bitumen (VG40) is listed at ₹48,152/MT.

India's zero-tax policy for foreign crude oil suppliers is set to enhance competition and supply security. BPCL secures a major deal with Petrobras, expanding India's crude sourcing. Meanwhile, Russian oil flows to Asia are shifting, and India's trade deficit narrowed in January. Experts see these changes reshaping India's energy landscape.

Crude oil prices experienced modest gains, driven by geopolitical uncertainties and supply chain challenges. India’s crude imports from the Middle East surged to a 27-month high as refiners sought alternatives to Russian oil amid sanctions. Expansion plans in India’s refining sector aim to meet growing demand, while diversification efforts continue to reduce reliance on select suppliers.

Bitumen prices are seeing significant fluctuations, with Roadgrip Bitumen (VG30) priced between ₹38,300 and ₹42,420 per metric ton across different Indian regions. The market is experiencing mixed demand trends, influenced by geopolitical events and seasonal slowdowns, particularly in northern India due to winter conditions. The global crude oil market dipped following President Trump's announcement to increase U.S. oil production.

Crude oil prices surged after Trump imposed tariffs on Canada, Mexico, and China. US refiners face cost hikes, but long-term oil prices may decline due to potential economic slowdowns. OPEC+ faces pressure to reverse production cuts as global supply shifts and retaliatory tariffs emerge.

Bitumen prices in India fluctuate due to geopolitical tensions and supply chain disruptions. Despite the ongoing demand from infrastructure projects, delays in government funding, and international supply challenges are affecting pricing and availability. Industry experts predict moderate growth in demand for 2025, but risks remain, including the potential impact of geopolitical sanctions on key suppliers.

Crude oil prices remained steady as US inventories rose by 3.5 million barrels. Demand indicators showed an increase in fuel consumption, while supply-side factors, including Russian export cuts and upcoming OPEC+ discussions, influenced market sentiment. Meanwhile, Trump's tariff plans on Canada and Mexico added uncertainty to the global oil market.