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Broker call▼ Bearish for Indian Oil
Rising Freight Prices, $95 Diesel Crack, $16 Crude Premium: What Happens Next For Energy Stocks? Jefferies Weighs In
The brief
- Jefferies estimates OMCs are losing around Rs 11 per litre on petrol and Rs 16 on diesel
- Fuel under-recoveries threaten Indian OMC margins, including those of IOCL, BPCL and HPCL
- Indian refiners buy costly West Asian barrels as Russian supply narrows
- India loses 6.2 million LPG customers in months as Iran war hits Gulf supplies