LubriEdge Rust Preventive Oil (Water Displacing Type (WDM)) in Bhiwadi

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 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 prices across India remain stable, with domestic exploration gaining momentum to reduce import dependency. With 144 oil blocks awarded and upstream investment projected at $100 billion by 2030, India is shifting focus toward energy self-sufficiency.

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.

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.

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 witnessing a shift in crude oil supply as Russian Urals shipments to Turkey decline, increasing availability for Indian refiners. Oil prices remain volatile due to OPEC+ production hikes and geopolitical uncertainties. Despite increased supply, India's demand for Urals crude remains strong, supported by long-term contracts.