India Oil and Gas Sector Report Q3 FY2026

Brent crude prices remained under sustained pressure during Q3 FY2026, reflecting a combination of soft seasonal demand, ample global supply, and a persistent market surplus. Prices declined sequentially through the quarter, falling 5.1% m/m in October, 1.1% m/m in November, and 2.0% m/m in December, with Brent averaging USD 63.6/bbl during the quarter, declining 14.7% q/q and 7.7% y/y. For calendar year 2025, Brent crude prices averaged USD 69.1/bbl, down 14.2% y/y, a sign of the broader downcycle in crude markets. October weakness in prices is linked to weak demand after the post-summer travel season and weak manufacturing activities in some economies. In November, prices remained weak due to weakness in economic activity as geopolitics continued to create uncertainty. Despite the holiday season in December, demand remained subdued due to a high base effect and higher inventories

This report provides a complete and detailed analysis of the "Fuel dealers" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Fuel dealers" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors