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

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.

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.

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.

Base oil prices in India remain firm despite subdued demand, supported by tight global supply and ongoing refinery maintenance. Domestic sourcing has increased amid competitive pricing. Asia’s Group I and high-viscosity Group II grades face constraints, while Group III remains competitive. Market direction hinges on crude oil trends and refinery restarts.