OMCs Face Crude Shocks
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
Country-wise crude oil import data shows Russia gaining the biggest share of the crude pie in FY23
India vastly depends on imported crude oil to meet its energy requirements.