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Six-month low crude prices fuel stocks of oil marketing cos
Millennium Post Delhi
|March 07, 2025
'OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC+ decision to hike output from April
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Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments.
Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC+ decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
The scrip of Hindustan Petroleum (HPCL) climbed 4.85 per cent to Rs 342.30 apiece, Indian Oil (IOC) jumped 3.68 per cent to Rs 126.75 & Bharat Petroleum Corporation (BPCL) advanced 3.24 per cent to Rs 264.20 per piece on the BSE.
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