Q3 Earnings Preview: Oil & Gas Firms Return To Near-Normalcy Level, Says ICICI Direct
A gas flare is seen at sunset at the Marathon Petroleum oil refinery (Photographer Luke Sharrett/Bloomberg)

Q3 Earnings Preview: Oil & Gas Firms Return To Near-Normalcy Level, Says ICICI Direct

Bookmark

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Global crude oil prices were on an upward trend from November onwards in Q3 FY21.

Brent crude oil prices, on a closing basis, jumped $10.2 per barrel QoQ to $51.2 per barrel on account of a recovery in demand compared to the earlier phase of Covid-19 pandemic and OPEC+ decision to maintain oil output at lower levels.

Average crude oil prices also increased by $1.8 to$ 44.6 per barrel.

Hence, net realisations of upstream companies are expected to increase marginally QoQ.

Click on the attachment to read the full report:

ICICI Direct Oil & Gas Q3Y21E Result Preview.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.