09 Jul 2024

BASE OIL PRICES REMAIN STEADY ON BALANCED SUPPLY & DEMAND

Brent crude oil prices continued to strengthen to close at $86.53 per barrel on Wednesday 3rd July 2024 following market expectations of US interest rate cut.

India’s lubes & greases consumption for May 2024 registered a growth of 3% over May 2023.

Fuel sales data from April to June indicates a growth in petrol and diesel consumption, with petrol sales rising by 4.2% and diesel sales by 0.7% year-on-year.

Veedol, a lubricant brand from Tide Water Oil Co. (India) Ltd., has signed up cricket legend Sourav Ganguly as its brand ambassador to enhance its brand presence and solidify its market position across India.

TotalEnergies Lubrifiants has announced a groundbreaking achievement with the launch of Quartz EV3R, the first range of lubricants made from regenerated base oils that match the performance of conventional oils. This innovative product line has received approval from several major car manufacturers, marking a significant milestone in the automotive industry.