India Oil and Gas Sector Report FY2025 Q3

Brent crude prices in Q3 FY2025 averaged USD 74.6/bbl, a 10.9% y/y decline and a 6.6% q/q decline. The average prices in the quarter were the lowest reported since Q2 FY2022. After three consecutive monthly declines, in October 2024, Brent crude prices strengthened, increasing 2.2% m/m, but subsequently in November and December, prices declined by 1.7% m/m and 0.7% m/m, respectively. The December average price of USD 73.9/bbl was the lowest since August 2021. In 2024, Brent crude prices peaked in April, when it touched USD 89.9/bbl, and the lowest print was in December, when it ended at USD 73.9/bbl. The average Brent crude price for 2024 was USD 80.5/bbl, lower by 2.4% y/y. In January 2025, Brent crude inched higher to USD 79.3/bbl, a 7.4% m/m increase due to the tarriff-related noise coming from the United States creating an uncertain environment. While tariffs will not lead to oil supplies being taken off the market, it will lead to redistribution, and hence market experts believe that while there will be a knee-jerk reaction to the developments, the concerns on demand will weigh on prices, particularly as OPEC+ is expected to unwind production cuts beginning April 2025, and in addition, non-OPEC players will also increase production.

This report provides a complete and detailed analysis of the "Oil exploration" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Oil exploration" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors