Amid the ongoing tariff threat from the US President Donald Trump, the crude oil prices will not be affected by it, says A S Sawhney, Chairman of Indian Oil Corporation Ltd (IOCL).
India continues to purchase crude oil from various global suppliers while ensuring compliance with international sanctions, according to A S Sawhney, Chairman of Indian Oil Corporation Ltd (IOCL).
Addressing a press conference a day ahead of the India Energy Week 2025, the Union minister recalled how India diversified its crude imports from 27 countries to 40 countries.
"India has diversified its sources of Oil supply, earlier we were importing crude oil from 27 countries now we are importing from 39 countries. If I can buy some from some source and I can buy it at a cheaper price, we are the winners," the Union Minister said in a BBC interview.
India's refined crude demand will peak later than in other major economies, placing the country in the spotlight driving this demand, according to S&P Global Commodity Insights.
The new tariffs, set to take effect on February 10, provide a short window for potential negotiations between the two countries says a report by S&P Global Market Intelligence.
After the US government announced a 10 per cent tariff on all Chinese goods exported to America, China on Tuesday imposed additional tariffs on various US goods, including a 15 per cent tariff on coal and liquefied natural gas, and a 10 per cent tariff on crude oil starting from February
The ICI measures the combined and individual performance of the production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index
Indian oil marketing companies' EBITDA will rise in the next financial year - 2025-26 -- as demand growth remains steady and Brent crude oil prices fall -- to USD 70 a barrel in 2025 and USD65 a barrel in 2026, said Fitch Ratings.
The international crude price outlook for 2025 will be driven by the prospect of an escalation in the trade war that is expected to depress Chinese demand, as per a report by ICICI Bank. The outlook also hinges on US President Donald Trump's energy policy regime.
"Will the Election Commission take notice of the hateful film by BJP? They are trying to spread hate in Delhi ahead of the elections, and it is a fact," Singhvi said. He also stressed that while India celebrates Amrit Mahotsav, the BJP was allegedly spreading "communal poison" during the ele