Fuel Oil (Virgin 180cST Furnace Oil) in Mundra

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.

Fuel oil prices in India remain stable, with slight regional variations. The Chinese market saw a minor decline due to weak demand and falling crude prices. Global fuel oil inventories rose, influencing bearish sentiment. Major contracts and MoUs were signed for crude, LNG, and renewable energy initiatives, ensuring future supply security.

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.

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 edged higher as Russian production fell below OPEC+ quotas. U.S. sanctions and tariffs added pressure on global trade. Indian Oil continues Russian crude purchases while expanding refining operations.

Crude oil prices declined after the US delayed tariffs on Canada and Mexico. OPEC+ maintained production levels despite Trump's pressure to increase supply. Meanwhile, Nigeria’s crude supply policy struggles as Dangote Refinery resumes imports. WTI crude may remain under pressure amid trade tensions and stable OPEC+ output.

Crude oil prices edged higher on Tuesday amid US plans to impose tariffs on key imports. While weak Chinese economic data and rising global inventories pressured prices, geopolitical tensions, sanctions on Russian oil, and the strong West Asian market premium offered support, highlighting a mixed market outlook.

Crude oil prices saw a decline on Thursday as US inventory levels rose for the first time in five weeks, coupled with ongoing global economic uncertainties and oversupply concerns. The market remains under pressure due to OPEC+ production dynamics, potential US tariff policies, and fluctuating demand influenced by China’s economic outlook.

Oil prices rose for the fourth straight week as US sanctions on Russian producers tightened supply. Rising shipping costs, cold-weather kerosene demand, and potential Federal Reserve interest rate cuts further boosted the market. Supply concerns around Trump’s policies on Iran and Venezuela add uncertainty, while China’s growth data offered mixed insights.