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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
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  • 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 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 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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FIPI

POLICY AND ECONOMIC OIL & GAS MARKET

1. A snapshot of the global economy

Global Economic Outlook

Economy in Focus

The global economy remained resilient during July 2026 despite heightened geopolitical uncertainty, although the pace of growth continued to moderate. Economic activity was shaped by two opposing forces: the adverse impact of renewed geopolitical tensions in the Middle East on global energy markets and supply chains, and the continued acceleration of the global technology cycle driven by rapid advances in artificial intelligence (AI), semiconductors and digital infrastructure. While easing commodity prices following the reopening of the Strait of Hormuz temporarily moderated inflationary pressures, renewed hostilities, elevated geopolitical risks, trade policy uncertainty and weak public finances continued to cloud the global economic outlook.

The International Monetary Fund (IMF), in its World Economic Outlook Update (July 2026), projected global economic growth at 3.0 per cent in 2026, improving to 3.4 per cent in 2027, broadly unchanged from its April assessment. The IMF noted that while the global economy has weathered the Middle East conflict better than initially anticipated, the negative supply shock arising from disruptions to energy markets has only been partly offset by stronger technology-led investment and Al adoption. Economies integrated into the global technology value chain are expected to benefit from stronger demand, whereas energy-importing economies with limited participation in the technology sector continue to face relatively weaker growth prospects.

The Asian Development Bank (ADB) also revised its regional outlook downward, lowering the growth forecast for Developing Asia and the Pacific to 4.9 per cent in 2026 from 5.1 per cent projected earlier, while maintaining the 2027 forecast at 5.1 per cent. The downgrade reflects prolonged disruptions to global energy markets, higher freight and transportation costs, elevated geopolitical uncertainty and weaker external demand. South Asia's growth outlook was similarly revised downward due to higher oil prices, increased logistics costs and uncertainty surrounding remittance inflows, while downside risks continue to stem from prolonged geopolitical tensions, tighter financial conditions and further escalation of the Middle East conflict.

According to S&P Global Market Intelligence, geopolitical developments continued to represent the principal downside risk to the global economy. The United States and Iran entered a phase of sustained but calibrated confrontation, maintaining elevated risks to energy flows, maritime trade and commercial shipping through the Strait of Hormuz. At the same time, Ukraine accelerated governance and energy- sector reforms aimed at strengthening wartime resilience ahead of winter, while Venezuela shifted policy priorities towards humanitarian relief and post-earthquake reconstruction. These developments continued to influence commodity markets, investor sentiment, supply chains and financial market volatility. Although lower commodity price assumptions have marginally improved the outlook for several net oil-importing economies, renewed hostilities and volatile energy prices continue to pose significant risks to global growth and inflation.

July 2026