Price of Crude Oil in International Market
The crude oil price fluctuates on a daily basis in the international market. The average price of Indian Basket of crude oil and the quantum of crude oil purchased year-wise are given below.
| Financial Year | Indian Basket of Crude Oil ($/bbl) | Import of crude oil ('000 Metric Tonnes) |
| 2015-16 | 46.17 | 202850 |
| 2016-17 | 47.56 | 213932 |
| 2017-18 | 56.43 | 220433 |
| 2018-19 | 69.88 | 226498 |
| 2019-20 | 60.47 | 226955 |
Indian basket of Crude Oil represents a derived basket comprising of Sour grade (Oman & Dubai average) and Sweet grade (Brent Dated) of Crude oil processed in Indian refineries.