Page 3 - Policy Economic Report- June'26

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

List of Figures & Tables

Figure 1: Global Real GDP Growth (% change) ............................................................................................. 9
Figure 2: Growth Outlook for Selected Emerging Market Economies (2025–2026) .................................. 11
Figure 3: Global Consumer Price Inflation (% Annual Change)................................................................... 12
Figure 4: Global Headline and Core CPI Inflation........................................................................................ 12
Figure 5: Global Trade Growth Outlook (2025–2028) ................................................................................ 13
Figure 6: Composite PMIs, by impact of conflict in the Middle East .......................................................... 14
Figure 7: Flash Composite PMI Output Indicators for G4 Advanced Economies (US, UK, Eurozone &
Japan) .......................................................................................................................................................... 14
Figure 8: U.S. AI- and Technology-Related Imports (12-Month Rolling Sum), 2016–2026 ........................ 16
Figure 9: Potential Economic and Sectoral Impacts of El Niño Across Selected Emerging Market
Economies................................................................................................................................................... 18
Figure 10: Trends in CPI (General) and Consumer Food Price Inflation (CFPI), April–May 2026............... 22
Figure 11: Inflation Rates Across Major CPI Groups (May 2026)................................................................ 22
Figure 12: WPI Index and Inflation Rate for All Commodities .................................................................... 23
Figure 13: Output PPI for All Commodities................................................................................................. 24
Figure 14: HSBC India Composite PMI Output Index and GDP Growth (2013–2026) ................................ 25
Figure 15: HSBC India Manufacturing PMI.................................................................................................. 26
Figure 16: Total Trade during May 2026.................................................................................................... 28
Figure 17: Benchmark price of Brent, WTI and Dubai crude ...................................................................... 36
Figure 18: Indian crude oil basket price in $ per bbl................................................................................... 37
Figure 19: Refining Margins ($/bbl) ............................................................................................................ 40
Figure 20: Singapore crack Spreads vs. Dubai ($/bbl) ................................................................................ 40
Figure 21: Global natural gas price trends ($/mmbtu) ............................................................................... 44
Figure 22: Domestic natural gas price June’25–26 ($/mmbtu) .................................................................. 45
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Table 1: CPI & Consumer Food Price Inflation (CFPI) – Inflation Rates & Index Values (May & April 2026)
.................................................................................................................................................................... 21
Table 2: Trade during May 2026 ................................................................................................................. 28
Table 3: Crude oil price in June, 2026 ......................................................................................................... 37
Table 4: Non-DoC liquids production in 2026, mb/d .................................................................................. 38
Table 5: World Oil demand, mb/d .............................................................................................................. 39
Table 6: Singapore FOB, refined product prices ($/bbl) in May 2026 ........................................................ 41
Table 7: Petroleum products consumption in India, May 2026 and Year till Date (YTD) ........................... 42
Table 8: Gas price, May 2026...................................................................................................................... 44

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