China’s US Decoupling Collapses Trade in Key Petroleum Product
It’s been just days since China responded to US tariffs with its own set of eye-watering levies, but one corner of the petroleum market is already in crisis as bilateral trade collapses between the two heavyweights. The price of propane, a type of liquefied petroleum gas, has plummeted in the US because selling to China, its biggest customer after Japan, is no longer viable. Chinese buyers are scurrying to find alternative sources of the fuel, which is used for heating and plastics, but are getting gouged by traders taking advantage of their distress.
India’s 2025 Oil product demand expected to average 5.8 million barrels per day says OPEC
Organization of the Petroleum Exporting Countries or OPEC noted that in February, India’s oil demand inched up by 28 thousand barrels (tb) per day (d), y-o-y, down from growth of 132 tb/d, y-o-y, seen the previous month. The largest monthly increases in oil product demand were recorded in transportation fuels, including gasoline and diesel. Gasoline demand posted the largest increase of 67 tb/d, y-o-y, up from a 59 tb/d, y-o-y, increase seen the previous month. Growth in gasoline demand in February was supported by an increase in vehicle sales amid a rise in disposable income and personal mobility. Diesel demand expanded by 45 tb/d, y-o-y, below growth of 79 tb/d, y-o-y, seen the previous month. Robust growth in transport fuels and growth in LPG and naphtha demand are expected to support overall oil demand expansion in 2Q25 by 235 tb/d, y-o-y. In 2025, oil product demand in India is expected to grow by a healthy 209 tb/d, y-o-y, to average 5.8 million barrels per day.
India to set fresh target of 30 per cent ethanol blending in petrol by 2030: Report
India is preparing to set a new target of 30 percent ethanol blending in petrol by 2030, after successfully reaching the 20 percent mark by March this year, reported Business Standard citing sources. The original goal of 20 percent blending was initially planned for 2030 but was later advanced to the 2025-26 ethanol supply year (ESY). In the 2023-24 ESY, the country achieved an average ethanol blending rate of 14.6 percent, up from 12.06 percent in the previous ESY. Officials at the Petroleum and Natural Gas Ministry confirmed that inter-ministerial discussions have agreed to raise the national blending target to 30 per cent by the end of the decade, according to the news report.