LubriEdge Hydraulic Oil (Hydraulic Oil 68) in Bhiwadi

Base Oil (SN150) is priced at ₹68/kg in Delhi and ₹61.5/litre in Kandla. In Bhiwadi, hydraulic and specialty oils range from ₹87 to ₹135/litre. UK imposes anti-dumping duties on engine oil and hydraulic fluid imports from Lithuania and UAE, aiming to protect domestic manufacturers from price undercutting and margin erosion.

Crude oil prices saw modest gains, with WTI at $64.19/bbl and Brent at $67.89/bbl. The Indian Rupee weakened to ₹85.34/USD. Russia now supplies 36% of India’s crude, outpacing OPEC. Domestic bitumen, base oil, and fuel oil prices remain stable. Market sentiment is bullish amid tightened supply and rising geopolitical risks.

India’s oil and gas sector is facing mounting pressure from weak global crude prices, macroeconomic uncertainty, and volatile equity markets. While refined product demand shows resilience, upstream players like Oil India are struggling. Domestic lubricant and fuel prices remain steady, but investor sentiment and stock performance are turning increasingly cautious.

Petroleum prices have softened amid rising supply and weakening global demand. Saudi Arabia’s sharp price cut and OPEC+ production hike have triggered bearish sentiment, pushing Brent to a four-year low. Oil product demand remains weak, while investor caution grows due to geopolitical tensions, trade uncertainty, and global economic slowdown concerns.

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.

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.

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.

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.

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.