Light at the end of the tunnel for domestic oil marketing companies

Even as concerns over the global spread of the pandemic remain, positive news flow on Covid-19 vaccine has raised hopes of global economic recovery next year and improved prospects for oil and gas demand.

This, in turn, also improves the outlook for domestic oil marketing companies (OMCs) such as Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL) and Indian Oil (IOC), which have seen worries on demand and weak refining margins impacting sentiments. With the US elections also behind, brokerages are expecting the focus to shift to economic revival in the world’s largest economy

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