Crude oil leaks from an oil pumping jack in an oil field. (Photographer: Andrey Rudakov/Bloomberg)
Refining gains for India oil firms in the first quarter are expected to be offset by weaker marketing margins and lower demand fur the pandemic’s second wave.Brent crude jumped 13% sequentially in the first quarter and the benchmark Singapore gross refining margin, a measure of what an oil firm earns for processing a barrel of crude, rose 16.7%.