July 30, 2026: For the first time in many months, the world oil demand scenario looks better if forecast by OPEC is any guide. Click column Special Database for details.

July 29, 2026: India’s Crude Oil Imports Continue With The Declining Trend. Click column Special Database  for Details.

July 27, 2026: Hormuz Becomes A Theatre Of War: The Strait of Hormuz has been a critical chokepoint for crude oil flows in the region. In 2025, about 20 million barrels of oil and oil products passed through the Strait which is bound to the North by Iran and to the South by Oman and the United Arab Emirates (UAE). Geographically, the strait is not very close to India. But any battle in Hormuz can play havoc with the Indian economy as it is the most critical maritime chokepoint handling about 50% of India's crude oil imports, 85% of its LPG supplies, and 55% of its LNG shipments. A shutdown threatens continuous refinery operations, power generation, and household cooking gas deliveries. For India, the sensible thing would be to change its crude acquisition strategy. India may have to depend more on Russia, the US, Venezuela and Africa for its crude requirements which do not have to come through Hormuz. The situation is similar to the one in 1970s when India signed a friendship treaty with the erstwhile Soviet Union to counter then US President Richard Nixon’s tilt towards Pakistan. Russia is already the single largest source of crude for India. Of late, its share in the Indian crude basket has been rising every month. Click Free Access column Petro Intelligence to read an insightful peace.