India Oil and Gas Sector Report Q4 FY2024 Quarterly Update

Brent crude prices in Q4 FY2024 averaged USD 83.0/bbl, a 2.2% y/y increase in contrast to a 0.9% q/q decline. In each of the three months in Q4 FY2024, Brent crude prices increased m/m due to the simmering tensions of a larger conflict in the Middle East, a fallout of the war between Israel and Gaza, and the attacks by the Houthi militants, creating logistical bottlenecks and raising concerns about supply. In early April 2024, Brent crude prices continued their ascent, surpassing the USD 90/bbl threshold, a peak last seen in October 2023, amid ongoing fears of a broader regional conflict. However, Brent crude prices since the third week of April have shown signs of cooling off, and, at the time of writing this report in May, they had corrected to USD 81/bbl. This price correction follows a period of easing tensions in the Middle East and growing concerns about demand. Despite the ongoing tightness in supply, the impact of high interest rates on consumer spending is weighing on prices.

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