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

Crude oil prices are relatively stable, with WTI at $62.69 and Brent at $64.76. India’s crude imports are set to rise in H2 2025 as refineries restart and expand. Russia remains a top supplier, while Brent-Dubai EFS makes Middle Eastern crude more attractive. Import diversification is expected to continue.

Crude prices dipped slightly while natural gas edged up. India's crude imports from Russia hit a two-year high, signaling deepening ties. Ongoing OPEC+ adjustments and geopolitical shifts influence supply. Joint India-Russia clean energy projects, including a thorium SMR, hint at future diversification beyond hydrocarbons.

Oil and gas prices across India remain steady, but exports of petroleum products dropped sharply by 35% YoY in April 2025 due to reduced HSD and ATF shipments and planned refinery maintenance. While short-term volumes may remain subdued, upcoming capacity expansions and stable demand are expected to support future recovery.

WTI crude oil hovers above $63/bbl, weighed by OPEC+ supply increases and U.S. trade tensions. Goldman Sachs highlights Trump’s historical preference for lower oil prices, adding uncertainty. While easing U.S.–China tariffs provided brief support, rising U.S. inventories and fragile geopolitical balances limit further upside. Market remains cautious and range-bound.

India has significantly ramped up U.S. crude oil imports, leveraging favorable WTI pricing and using energy trade as a strategic tool amid ongoing tariff negotiations with the U.S. State refiners are leading the charge, while analysts expect continued import growth, potentially impacting regional freight, WTI pricing, and global energy trade dynamics.

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 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.