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A Spike In Benchmark GRM Offers Little Relief To BPCL, HPCL, Indian Oil
The benchmark GRM is currently at $1.35 per barrel compared with an average of $0.8 so far this year.
21 Sep 2021, 07:51 AM IST
A benchmark of profitability for crude refiners has spiked in the past few weeks but it doesn’t offer much reason to cheer.The Singapore-Dubai Hydrocracking refining margin hit a 26-week high of $1.75 a barrel on Aug. 31, according to Bloomberg data. It’s currently at $1.35 per barrel compared with an average of $0.8 so far this year.The Asian benchmark—a measure of how much a refiner makes by turning a barrel of crude into finished ...
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