Page 3 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

List of Figures & Tables

Figure 1: Global GDP growth projections for 2025 and 2026 ...................................................................... 5
Figure 2: Global GDP growth........................................................................................................................ 6
Figure 3: G20 headline inflation................................................................................................................... 7
Figure 4: G20 headline inflation................................................................................................................... 8
Figure 5: Interactive graph tool: Correlation between HCI and adult informal employment rate ............ 11
Figure 6: Proportion of seats held by women in national parliaments (%)................................................ 12
Figure 7: Women, Business and Law Index for the year 2023 across regions (scale 1-100)...................... 13
Figure 8: Annual GDP Estimates along with Y-o-Y Growth Rates at Constant Prices ................................ 15
Figure 9: Sector-Wise growth rates (%) of Real GVA in FY 2023-24 & FY 2024-25 .................................... 16
Figure 10: Year on Year Inflation rate based on CPI................................................................................... 16
Figure 11: Sectoral Contribution to IIP growth (%) .................................................................................... 18
Figure 12: Monthly Indices and Growth Rate (in %) of IIP for the last 13 months..................................... 19
Figure 13: Overall Trade during February 2025 ......................................................................................... 20
Figure 14: Total Trade during April- February 2025................................................................................... 21
Figure 15: India’s Digital Economy in this Tech age Depends on World-Leading AI Focus ........................ 25
Figure 16: Benchmark price of Brent, WTI and Dubai crude....................................................................... 34
Figure 17: Indian crude oil basket price in $ per bbl ................................................................................... 35
Figure 18: Refining Margins ($/bbl) ............................................................................................................ 38
Figure 19: Singapore crack Spreads vs. Dubai ($/bbl)................................................................................. 38
Figure 20: Global natural gas price trends ($/mmbtu) ............................................................................... 42
Figure 21: Domestic natural gas price March’24–25 ($/mmbtu) ............................................................... 43
Figure 22: Domestic natural gas Gross production (Qty in MMSCM)......................................................... 44
Figure 23: LNG imports (Qty in MMSCM) ................................................................................................... 45
Figure 24: Sectoral Consumption of Natural Gas (Qty in MMSCM) in April-February 2025....................... 45
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Table 1: Trade during February 2025.......................................................................................................... 20
Table 2: Crude oil price in March, 2025 ...................................................................................................... 34
Table 3: Non-DoC liquids production in 2025, mb/d................................................................................... 36
Table 4: World Oil demand, mb/d............................................................................................................... 37
Table 5: Singapore FOB, refined product prices ($/bbl) in February 2025.................................................. 39
Table 6: Petroleum products consumption in India, February 2025 and Year till Date (YTD)..................... 40
Table 7: Gas price, February 2025 .............................................................................................................. 42
Table 8: Gas price, GCV Basis...................................................................................................................... 42

March 2025 Page | 2