Page 3 - Policy Economic Report_Jan 25
P. 3
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
List of Figures & Tables
Figure 1: GDP growth projections for 2025 ................................................................................................. 5
Figure 2: GDP growth projections for 2025 ................................................................................................. 6
Figure 3: Global economic growth & PMI.................................................................................................... 8
Figure 4: Glacier Mass change globally (Annual mass change, gigatons from 1976 to 2023) ................... 11
Figure 5: Annual GDP and GVA estimates along with y-o-y growth rates ................................................. 12
Figure 6: Sector-wise Growth rates (%) of Real GVA in FY 2023-24 and 2024-25 ..................................... 13
Figure 7: Year-on-year inflation rate based on CPI .................................................................................... 14
Figure 8: All India Inflation Rates for CPI(General) and CFPI (%) ............................................................... 14
Figure 9: India PMI ..................................................................................................................................... 15
Figure 10: Overall Trade during November 2024 ...................................................................................... 17
Figure 11: Total Trade during April- November 2024 ................................................................................ 17
Figure 12: Industry-wise Jobs Created by Startups.................................................................................... 20
Figure 13: Ranking countries by mean income and Prosperity Gap from richest (top) to poorest (bottom)
.................................................................................................................................................................... 23
Figure 14: Benchmark price of Brent, WTI and Dubai crude ...................................................................... 26
Figure 15: Indian crude oil basket price in $ per bbl................................................................................... 27
Figure 16: Refining Margins ($/bbl) ............................................................................................................ 30
Figure 17: Singapore crack Spreads vs. Dubai ($/bbl) ................................................................................ 30
Figure 18: Global natural gas price trends ($/mmbtu) ............................................................................... 34
Figure 19: Domestic natural gas price January’24–25 ($/mmbtu) ............................................................. 35
Figure 20: Domestic natural gas Gross production (Qty in MMSCM) ........................................................ 36
Figure 21: LNG imports (Qty in MMSCM) ................................................................................................... 37
Figure 22: Sectoral Consumption of Natural Gas (Qty in MMSCM) in April-November 2024.................... 37
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Table 1: Trade during December 2024 ....................................................................................................... 16
Table 2: Crude oil price in January, 2025 .................................................................................................... 26
Table 3: Non-DoC liquids production in 2025, mb/d .................................................................................. 28
Table 4: World Oil demand, mb/d .............................................................................................................. 29
Table 5: Singapore FOB, refined product prices ($/bbl) in December 2024............................................... 31
Table 6: Petroleum products consumption in India, December 2024 and Year till Date (YTD) 2024 ........ 32
Table 7: Gas price, December 2024 ............................................................................................................ 34
Table 8: Gas price, GCV Basis ...................................................................................................................... 34
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