Page 3 - Policy Economic Report - September 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

List of Figures & Tables

Figure 1: Real GDP projected Growth rates for 2024(green color) and 2025 (blue color) .......................... 6
Figure 2: Global GDP growth......................................................................................................................... 7
Figure 3: Headline Inflation rate ................................................................................................................... 8
Figure 4: Headline Inflation rate ................................................................................................................... 9
Figure 5: Headline Inflation rate ................................................................................................................. 11
Figure 6: Quarterly real GDP estimates (in Rs. Lakh crores) and y-o-y growth rates (%) ........................... 14
Figure 7: Sector -wise growth rates (%) of Real GVA for Q1 of FY 2023-24 & 2024-25.............................. 14
Figure 8: Inflation trend based on all India CPI........................................................................................... 15
Figure 9: Inflation trend based on all India CPI........................................................................................... 16
Figure 10: Overall Trade during August 2024 ............................................................................................ 18
Figure 11: Total Trade during April- August 2024...................................................................................... 19
Figure 12: Benchmark price of Brent, WTI and Dubai crude ...................................................................... 26
Figure 13: Indian crude oil basket price in $ per bbl................................................................................... 27
Figure 14: Refining Margins ($/bbl) ............................................................................................................ 30
Figure 15: Singapore crack Spreads vs. Dubai ($/bbl) ................................................................................ 31
Figure 16: Global natural gas price trends ($/mmbtu) ............................................................................... 34
Figure 17: Domestic natural gas price September’23–24 ($/mmbtu)........................................................ 35
Figure 18: Domestic natural gas Gross production (Qty in MMSCM) ........................................................ 36
Figure 19: LNG imports (Qty in MMSCM) ................................................................................................... 37
Figure 20: Sectoral Consumption of Natural Gas (Qty in MMSCM) in April-August 2024 ......................... 37
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Table 1: Trade during August 2024............................................................................................................. 18
Table 2: Crude oil price in September, 2024............................................................................................... 26
Table 3: Non-DoC liquids production in 2024, mb/d .................................................................................. 28
Table 4: World Oil demand, mb/d .............................................................................................................. 29
Table 5: Singapore FOB, refined product prices ($/bbl) in August 2024 .................................................... 31
Table 6: Petroleum products consumption in India, August 2024 and Year till Date (YTD) 2024 .............. 32
Table 7: Gas price, August 2024.................................................................................................................. 34
Table 8: Gas price, GCV Basis ...................................................................................................................... 34

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