Page 3 - Policy Economic Report_Feb'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

List of Figures & Tables

Figure 1: GDP growth projections for 2025 ................................................................................................. 5
Figure 2: Global & regional inflation ............................................................................................................ 8
Figure 3: Global energy transition investment .......................................................................................... 11
Figure 4: Top destination for inward FDI ................................................................................................... 12
Figure 5: Year-on-year inflation rate based on CPI .................................................................................... 22
Figure 6: All India Inflation Rates for CPI(General) and CFPI (%) ............................................................... 23
Figure 7: India PMI ..................................................................................................................................... 24
Figure 8: Overall Trade during January 2025 ............................................................................................. 25
Figure 9: Total Trade during April- November 2024 .................................................................................. 26
Figure 10: Benchmark price of Brent, WTI and Dubai crude ...................................................................... 33
Figure 11: Indian crude oil basket price in $ per bbl................................................................................... 34
Figure 12: Refining Margins ($/bbl) ............................................................................................................ 37
Figure 13: Singapore crack Spreads vs. Dubai ($/bbl) ................................................................................ 37
Figure 14: Global natural gas price trends ($/mmbtu) ............................................................................... 41
Figure 15: Domestic natural gas price February’24–25 ($/mmbtu) ........................................................... 42
Figure 16: Domestic natural gas Gross production (Qty in MMSCM) ........................................................ 43
Figure 17: LNG imports (Qty in MMSCM) ................................................................................................... 44
Figure 18: Sectoral Consumption of Natural Gas (Qty in MMSCM) in April-January 2025 ........................ 44
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Table 1: Trade during January 2025............................................................................................................ 25
Table 2: Crude oil price in February, 2025.................................................................................................. 33
Table 3: Non-DoC liquids production in 2025, mb/d .................................................................................. 35
Table 4: World Oil demand, mb/d .............................................................................................................. 36
Table 5: Singapore FOB, refined product prices ($/bbl) in January 2025 ................................................... 38
Table 6: Petroleum products consumption in India, January 2025 and Year till Date (YTD)...................... 39
Table 7: Gas price, January 2025 ................................................................................................................ 41
Table 8: Gas price, GCV Basis ...................................................................................................................... 41

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