Indian Basket

Indian Basket (IB), also known as Indian Crude Basket, is weighted average of Dubai and Oman (sour) and the Brent Crude (sweet) crude oil prices. It is used as an indicator of the price of crude imports in India and Government of India watches the index when examining domestic price issues.^[1]

Methodology for calculation

The Indian basket of Crude Oil represents a derived basket comprising Sour grade (Oman and Dubai average) and Sweet grade (Brent Dated) of Crude oil processed in Indian refineries. During the year 2018-19, the ratio is 75.50 : 24.50 (Dubai : Brent respectively) ^[2] and during the year 2017-2018, the ratio was 74.77 : 25.23 (Dubai : Brent). The Indian Basket is weighted average of daily prices and is updated daily on the website of the Petroleum Planning and Analysis Cell of the Ministry of Petroleum and Natural Gas.^[3]

Indian Basket prices

Year	Price	Comments
2000-2001	$26.92	^[4]
2001-2002	$22.55
2002-2003	$26.60
2003-2004	$27.98
2004-2005	$39.21
2005-2006	$55.72
2006-2007	$62.46
2007-2008	$79.25
2008-2009	$83.57
2009-2010	$69.76
2010-2011	$85.09
2011-2012	$111.89
2012-2013	$107.97
2013-2014	$105.52
2014-2015	$84.16
2015-2016	$46.17
2016-2017	$47.56
2017-2018	$56.43
2018-2019	$69.88
2019-2020	$60.47
2020-2021	$48.94	(Dec 2020 only) ^[5] ^[6]

References

^ "What is Indian Crude Basket?". indianeconomy.net. Retrieved 19 August 2017.
^ "The Indian Basket of Crude oil". Blog.Parivarthanias.com. Archived from the original on 27 May 2020. Retrieved 15 May 2020.
^ "Historic prices". Ministry of Petroleum and Natural Gas. Archived from the original on 19 August 2017. Retrieved 19 August 2017.
^ "Yearly prices". www.indiaenergy.gov.in. Retrieved 3 February 2019.
^ "Crude Oil Price". ppac.gov.in. Archived from the original on 2023-09-06. Retrieved 2023-09-06.
^ "Prices:Petroleum Planning & Analysis Cell".

External links

Petroleum industry

Benchmarks

Data

Natural gas	Consumption Production Reserves Imports Exports Price
Petroleum	Consumption Production Reserves Imports Exports Posted oil price Price of gasoline and diesel

Provinces
and fields

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