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India’s Oil Firms Shouldn’t Cheer Higher Refining Margins Just Yet
Refining margins may improve in Q4. But risks persist.
09 Apr 2021, 07:07 PM IST
Refining margins of Indian oil marketers are expected to improve in the quarter ended March, helped by inventory gains and rising benchmark gross refining margins. But risks persist.The benchmark Singapore gross refining margin—the amount an oil marketer earns by refining one barrel of crude oil—rose to the highest in six quarters to $1.8 a barrel from $1.2 in the preceding quarter. That came as Brent crude prices rose 36.1% quarter-...
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