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Technology

Policy Economic Report July 2026 - v4

By sanjay singh

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Share link
https://covver.com/magazine/sanjaysingh1305/policy-economic-report-july-2026-v4-2
Published
Aug 7, 2026
Pages
80
Language
English

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  • CoverFIPI Federation of Indian Petroleum Industry
  • Page 2FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 3FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 7FIPI POLICY AND ECONOMIC
  • Page 8FIPI POLICY AND ECONOMIC OIL & GAS MARKET and options. Speculators were increasingly betting on easing geopolitical risk premiums. At the same time, they sharply raised short positions to their highest level since December 2025, fuelling volatility and accelerating the decline in oil futures prices. Combined futures and options net long positions in ICE Brent and NYMEX WTI dropped to their lowest level since January 2026.
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  • Page 16FIPI POLICY AND ECONOMIC OIL & GAS MARKET growth path despite recent geopolitical disruptions. Emerging market economies generally outperformed advanced economies, with India recording the strongest expansion among all economies covered by the survey, followed by Ireland, China and Japan, reflecting the continued resilience of domestic demand in several Asian economies.
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  • Page 21FIPI POLICY AND ECONOMIC OIL & GAS MARKET per cent in FY 2026-27, compared with 7.7 per cent in FY 2025-26, before improving modestly to 6.8 per cent in FY 2027-28. While the projected slowdown reflects a more challenging global environment, India's growth outlook continues to compare favourably with that of other major economies, supported by resilient domestic demand, sound macroeconomic fundamentals and continued policy support.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 14: HSBC India Manufacturing PMI sa, >50 growth since previous month
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 15: Total Trade during June 2026
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  • Page 33FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 34FIPI POLICY AND ECONOMIC OIL & GAS MARKET kilometres of previously restricted offshore areas have significantly expanded exploration opportunities. These reforms, complemented by investments in geoscientific surveys and the National Data Repository, are expected to improve exploration success rates and attract greater investment into frontier basins.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Indian Basket Crude oil price
  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Table 4: Non-Doc liquids production in 2026, mb/d
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  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • Page 46FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 47FIPI POLICY AND ECONOMIC OIL & GAS MARKET was further revised for the period 1st April, 2025 30th September, 2025 was notified as US$10.04/MMBTU on Gross Calorific Value (GCV) basis. Prices were further revised for the period 1st October, 2025 - 31st March, 2026 was notified as US$9.72/MMBTU on Gross Calorific Value (GCV) basis as per notification dated 30th September 2025. As per notification dated 31st March 2026, gas prices were further revised for the period 1st April 2026-30th September 2026 and was notified as US$ 8.90/MMBTU on Gross Calorific Value (GCV) basis.
  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Solar street lighting and provision of lighting in Rs. 1 lakh per MPC MPCs of PVTG areas (under PM JANMAN
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  • Page 73FIPI POLICY AND ECONOMIC OIL & GAS MARKET success of efforts to ramp up assured domestic supply and reduce reliance on the blending mandate.
  • Page 74FIPI POLICY AND ECONOMIC
  • Page 75FIPI POLICY AND ECONOMIC OIL & GAS MARKET bring together governments, industry, investors, technology leaders, researchers, startups and academia to strengthen partnerships, promote innovation and shape the future of sustainable and technology-driven mining. Highlighting the transformative reforms undertaken over the past decade under the leadership of Prime Minister Shri Narendra Modi, he noted that transparent auctions, commercial coal mining, accelerated exploration, ease of doing business and technology-led governance have positioned India among the world's most attractive mining destinations. Referring to emerging global challenges related to energy security, critical minerals and resilient supply chains, he said India is pursuing an integrated approach that combines policy reforms, technological advancement, value addition, sustainability and international collaboration to build a future-ready mining ecosystem. The Minister expressed confidence that the event would strengthen global partnerships, showcase India's mineral potential and technological capabilities, and contribute to realizing the vision of Aatmanirbhar and Viksit Bharat. He urged all technology innovators, researchers, industries and other stakeholders to be part of the India Mining Week 2026.
  • Page 76FIPI POLICY AND ECONOMIC OIL & GAS MARKET policy reforms and accelerated exploration. Announcing the forthcoming launch of the 8th round of Critical and Strategic Mineral Blocks auctions, he said the initiative will further strengthen domestic availability of critical minerals, encourage greater private sector participation, attract investment and reinforce India's resilient mineral value chains. He noted that India Mining Week 2026 will serve as a global platform to showcase India's mining reforms, resource potential and emerging opportunities while fostering international collaboration, innovation and investment in the sector.
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Text of this page

FIPI

POLICY AND ECONOMIC

OIL & GAS MARKET cent while continuing to support growth alongside its commitment to maintaining price stability and financial stability.

India's external sector remained resilient despite persistent global uncertainties. Merchandise and services exports continued to register healthy growth, supported by strong performance in engineering goods, electronics, chemicals, gems and jewellery and business services. Non-petroleum exports remained robust, highlighting the increasing diversification and competitiveness of India's manufacturing sector. Meanwhile, foreign exchange reserves remained at comfortable levels, providing an important buffer against external shocks and reinforcing confidence in India's macroeconomic fundamentals. The issue also highlights recent policy initiatives aimed at strengthening export competitiveness, attracting foreign exchange inflows and enhancing long-term external sector resilience.

Overall, while geopolitical tensions, energy market volatility and trade uncertainties continue to present challenges to the global economy, India's strong macroeconomic fundamentals, ongoing structural reforms, sustained infrastructure investment and expanding manufacturing and services sectors position the country favourably to sustain robust economic growth over the medium term. Continued policy support, digital transformation, industrial diversification and investment in strategic sectors are expected to further strengthen India's role as a leading driver of global economic growth.

As far as oil and gas industry is concerned, benchmark crude oil prices continued their downward trajectory in June, driven by the interim ceasefire agreement between the United States and Iran, which facilitated a significant recovery in oil flows through the Strait of Hormuz. North Sea Dated crude prices declined by approximately US$31/bbl during the month, reaching US$68/bbl by early July, the lowest level since January and approximately US$2/bbl below pre-conflict levels. However, the escalation in hostilities on 7-8 July has introduced renewed uncertainty into the market outlook and could disrupt current forecasts that anticipate the market shifting into a surplus next year.

Following the United States' temporary easing of restrictions on Iranian exports and the provision of security support for non-Iranian shipments, tankers delayed in the Strait of Hormuz resumed their transit. Consequently, total Gulf oil exports, including volumes transported through alternative routes bypassing the Strait, increased by 6.5 mb/d in June to 16.1 mb/d. While this represents a substantial month-on- month increase, export volumes remained significantly below the 24 mb/d average recorded prior to the onset of the conflict.

Crude oil and condensates accounted for approximately 85% of the monthly increase, supported by the drawdown of floating storage and onshore inventories that had previously reached near-capacity levels. As a result, Gulf oil production increased by a comparatively more modest-but still significant-3.5 mb/d, although production remained 11.4 mb/d below pre-conflict levels.

Hedge funds and other money managers closed a large volume of speculative long positions in June, with the selling being more pronounced in the ICE Brent futures market. Between late May and the week of 30 June, hedge funds and other money managers sold an equivalent of 245 mb across Brent and WTI futures

July 2026