PetroBazaar

Oil Market Reports

  • India Plans Strategic LNG & Fuel Reserves

    India Plans Strategic LNG & Fuel Reserves

    Srinivas Chowdary Sunkara

    India is planning to build strategic natural gas reserves and expand its emergency fuel storage capacity following the recent West Asia crisis, which highlighted vulnerabilities in global energy supply chains. The government is evaluating the creation of LNG reserves alongside additional crude oil and LPG storage to strengthen the country’s energy security during geopolitical disruptions.…

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  • India Lifts Restrictions on Petrol & Diesel Sales at PSU OMC Retail Outlets from July 1, 2026.

    India Lifts Restrictions on Petrol & Diesel Sales at PSU OMC Retail Outlets from July 1, 2026.

    Srinivas Chowdary Sunkara

    Government Removes Restrictions on Diesel & Petrol Sales at PSU OMC Retail Outlets from July 1 The Government of India has withdrawn the temporary restrictions on the retail sale of petrol and diesel to commercial, industrial and institutional consumers at public sector oil marketing company (PSU OMC) fuel stations, effective July 1, 2026. The decision…

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  • IEA reports lower demand over supply

    IEA reports lower demand over supply

    Srinivas Chowdary Sunkara

    IEA Feb Oil Market Report sang bearish tunes. Here is a summary.

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  • India–EU Trade Deal: Impact on the Oil and Gas Industry

    India–EU Trade Deal: Impact on the Oil and Gas Industry

    Srinivas Chowdary Sunkara

    India–EU “Mother of All Trade Deals”: Boon or Bane for the Oil & Gas Sector? New Delhi and Brussels have concluded a comprehensive pact that sharply cuts tariffs and expands market access across most goods and sectors. While attention is on manufacturing and services, the oil and gas industry will also see meaningful impacts, as…

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  • IEA Oil Market Report – January 2024

    IEA Oil Market Report – January 2024

    Srinivas Chowdary Sunkara

    International Energy Agency’s January 2024 Oil Market Report signalled a clear shift from a tight post COVID oil market to a more supply heavy and balanced phase a view that still aligns closely with current market conditions. Supply : The IEA highlighted strong non-OPEC supply growth, led by the US and other Americas, pushing global…

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  • ‘FOSSIL FUELS’ term needs rethinking

    ‘FOSSIL FUELS’ term needs rethinking

    Srinivas Chowdary Sunkara

    Terms such as “hydrocarbons,” “conventional energy,” or “oil and gas resources” allows for more nuanced discussions focused on efficiency, emissions reduction, and sustainable development rather than ideology. In today’s evolving energy landscape, the commonly used term “fossil fuels” is increasingly being questioned for its scientific inaccuracy and misleading implications. OPEC have called for a reassessment…

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  • OPEC predicts healthy demand growth.

    OPEC predicts healthy demand growth.

    Srinivas Chowdary Sunkara

    OPEC OMR SUMMARY ECONOMIC GROWTH RATE: As usual, OPEC maintained stable and cautiously balanced global oil market outlook. The institute forecasted global economic growth at 3.1% in 2026, rising slightly to 3.2% in 2027, supported by steady expansion in the US, China, India, and other emerging economies. OPEC BASKET : The OPEC Reference Basket (ORB)…

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  • OPEC oil output falls

    OPEC oil output falls

    Srinivas Chowdary Sunkara

    OPEC output dropped in the month of Dec, 2025 The Orgnaisation of The Petroleum Exporting Countries produced about 28.4 Mbpd, which is 100,000 barrels less than that produced in Nov, 2025. This drop is mainly because of Iran and Venezuela pumped less oil in the month. U.S sanctions on Iran and US blockade on Venezuela…

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  • crude imports from US spiked – A Report

    crude imports from US spiked – A Report

    Srinivas Chowdary Sunkara

    What are the factors behind this well-oiled strategy? According to the global real time data and analytics provider Kpler, India imported 442000 bpd of crude from the U.S in Nov, double compared to last year and second highest level since 2022. The US was India’s 4th largest crude oil supplier for the second month in…

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  • Global Oil Market Report – November 2025

    Global Oil Market Report – November 2025

    Srinivas Chowdary Sunkara

    Petrobazaar.com Analysis & Insights The International Energy Agency’s (IEA) Oil Market Report for November 2025 presents a mixed outlook for the global oil sector, marked by improving demand, strong supply growth, rising inventories, and softening crude prices. The market continues to navigate a delicate balance between economic recovery, geopolitical pressures, refining disruptions, and sanction-driven flows.…

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