Page 2 - FIPI - Policy & Economic Report May 2026
P. 2
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Table of Contents
Executive Summary ..................................................................................................... 3
Economy in Focus......................................................................................................... 9
Lessons from Economics..........................................................................................31
Oil Market .....................................................................................................................38
Crude oil price – Monthly Review .........................................................................................38
Indian Basket Crude oil price ................................................................................................40
Oil production situation .......................................................................................................40
Oil demand situation............................................................................................................42
Global petroleum product prices ..........................................................................................42
Petroleum products consumption in India ............................................................................44
Natural Gas Market....................................................................................................46
Natural Gas Price – Monthly Review.....................................................................................46
Monthly Report on Natural gas production, imports, and consumption – April 2026..............49
Key developments in Oil & Gas sector.................................................................51
Key Policy developments/Significant news in Energy sector.....................52
May 2026 Page | 1
