Lubriedge Rubber Process Oil (Paraffinic 245) in Delhi

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.

India's crude oil imports from the U.S. hit a two-year high as refiners sought alternatives to Russian supplies amid sanctions. Russian imports declined slightly, with Middle Eastern suppliers filling the gap. Fresh U.S. sanctions on Russian oil impacted revenues, reshaping global trade flows. Competitive pricing and supply diversification will continue.

India’s petroleum market is undergoing a shift due to fluctuating bitumen prices and evolving crude oil imports. US crude shipments to India nearly doubled in February, while Russian exports declined by 25% amid sanctions. Indian refiners are diversifying sources, increasing Middle Eastern imports, and securing long-term energy agreements with global suppliers.

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.

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.

Oil prices rose for the fourth consecutive week due to tightening global supply, US sanctions on Russian oil, and increased demand from extreme winter conditions. OPEC+ production cuts and declining US crude inventories further supported the upward trend. However, declining demand from China and increased non-OPEC production continue to counterbalance these factors, resulting in expected price volatility.