Page 38 - Policy Economic Report- June'26

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• Brent crude price averaged $87.06 per bbl in June 2026, down by 17.1% on a month on month (MoM)
and up by 24.1% on year on year (YoY) basis, respectively.

• WTI crude price averaged $84.12 per bbl in June 2026, down by 14.9% on a month on month (MoM)
and up by 23.0% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $88.44 per bbl in June 2026, down by 13.7% on a month on month (MoM)
and up by 27.5% on year on year (YoY) basis, respectively.

Table 3: Crude oil price in June, 2026

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 87.06
WTI 84.12 -17.1% 24.1%
Dubai 88.44 -14.9% 23.0%
Source: World Bank -13.7% 27.5%

Indian Basket Crude oil price

Figure 18: Indian crude oil basket price in $ per bbl

120.00
115.00
110.00
105.00
100.00

95.00
90.00
85.00
80.00
75.00
70.00
65.00

1-Jun-26
2-Jun-26
3-Jun-26
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22-Jun-26
23-Jun-26

June 2026 Source: PPAC
• Indian crude basket price averaged $87.83 per barrel in June 2026, down by 17.3% on Month on

Month (M-o-M) and up by 25.2% on a year on year (Y-o-Y) basis, respectively.
Oil production situation

• Non-DoC liquids production (i.e. liquids production from countries not participating in the Declaration
of Cooperation) is forecast to grow by about 0.6 mb/d, y-o-y, in 2026, unchanged from last month’s

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