In the first half of June, the Indian Barite market witnessed a positive price movement driven by various factors across industries. The price of Barite in Indian domestic market increased by xx, stabilizing at USD xxx/MT Ex Chennai (India).
Barite&#xx;s role in oil and gas exploration is emphasized by its crucial function as a weighting agent in drilling fluids. India, the world&#xx;s leading producer of Barite, is witnessing heightened demand from key oil-producing nations. Saudi Arabia relies heavily on Barite for its drilling operations, exemplified by the recent unveiling of a second jack-up rig by ARO Offshore Drilling and International Maritime Industries (IMI), part of a larger initiative to build xx rigs. In Australia, the Federal Govt鈥檚 approval of over xxx new gas wells in southern Queensland further boosts regional demand for Indian Barite. Simultaneously, the UAE&#xx;s accelerated expansion of oil well drilling underscores the increasing demand...
