Roadgrip Bitumen Emulsion (SS 1) in Pithampur

Global bitumen prices declined last week, driven by falling Brent crude and weak demand, especially from China. Indian bitumen prices dropped by $7–$8 on May 1. Despite geopolitical tensions, oversupply risks and economic stagnation continue to pressure prices. Market may stay bearish unless crude stabilizes above $60.

Petroleum product prices in India show wide regional and packaging variations, with VG40, base oils, and lubricants trading at distinct levels. OPEC+ output hike and subdued demand are shaping global supply dynamics. Despite regional geopolitical tensions, oil prices remain stable due to unaffected supply chains and sufficient global inventories.

Crude oil prices dropped sharply, with Brent at $66.18 and WTI at $62.45 per barrel, amid rising supply and weak demand. Bitumen held steady across most Asian markets, though Bahrain saw a $50 drop. Indian prices remained firm, supported by seasonal construction demand, despite overall market caution.

Petroleum prices showed mixed movement this week, with Brent crude closing at $66.48 and bitumen prices increasing slightly in India due to strong local demand. While no immediate disruptions have been reported from Middle Eastern tensions, underlying geopolitical uncertainty continues to influence supplier sentiment and price volatility, especially in markets like Iran. U.S.–China tensions and ongoing Iran-U.S. negotiations are also shaping market forecasts and investor behaviour.

India’s petroleum market is experiencing rising demand, driven by refinery expansions and strong downstream growth. Domestic product prices remain stable, while Saudi Aramco eyes investment partnerships with Indian refiners. Increased refining capacity and foreign interest signal India’s ambition to become a regional petrochemical hub and ensure long-term crude supply security.

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.

Oil and bitumen prices continue to be influenced by global economic conditions. While crude oil remains volatile, bitumen prices are expected to rise in India by mid-March. Key developments include Iran’s rising bitumen demand, the U.S. maintaining record-high oil production forecasts, and India’s increasing crude oil imports. Experts predict that crude oil will remain within the $60-$80 range shortly, with volatility persisting in the bitumen market.

Bitumen prices remain volatile due to fluctuating crude oil prices and supply chain disruptions. OPEC+ supply cuts and geopolitical factors are influencing demand trends. While prices declined in India, refinery price hikes could trigger rebounds. Experts predict continued volatility, with geopolitical and economic developments shaping future price movements globally.

China’s crude oil imports fell 5% in early 2025 due to U.S. sanctions and port restrictions, raising freight costs and limiting supply. Refined product exports dropped 18%, while LNG imports declined 7.7%. However, imports are expected to rebound in March-April as refiners adapt, securing alternative crude and attracting more non-sanctioned tankers.