India has placed restrictions on institutional and commercial buyers of fuel. These customers must now source motor spirit and high-speed diesel from their own consumer pumps. The measure is in effect for an initial period of up to 90 days. Retail outlets are also limited to selling a maximum of 200 litres of high-speed diesel…
The government has removed excise duty on blending over 20% ethanol with petrol. This move supports the use of more domestically produced ethanol. It aims to reduce reliance on imported crude oil. While this exemption is a step towards higher blends, extensive testing is still required. Most current vehicles are compatible with up to E20…
OPEC has reduced its 2026 oil demand growth forecast to 970,000 barrels per day. This marks a second consecutive cut. The group sees less impact from the Iran war than other agencies. However, OPEC expects demand to rebound later, raising its 2027 forecast. The war has disrupted oil routes, affecting global prices and output.
In a landmark agreement, India is teaming up with the UAE to significantly increase its oil reserves, transitioning into a strategic player on the world stage. This partnership promises enhanced storage solutions and ensures the nation’s energy supply is more secure than ever.
Global oil prices remain surprisingly low despite the ongoing war in Iran. China’s drastic cut in oil imports is a major factor. Demand destruction and increased production from other regions also contribute. Refineries show greater flexibility in processing and output. The market is also influenced by improved information flow and strategic reserve releases.
India’s government is giving consumers a break by waiving excise duty on petrol. This move is tied to the increased use of ethanol blended into the fuel, encouraging a greener approach to transportation and potentially lowering prices at the pump for everyone.