Oil Stocks Outlook for the week - 12 to 16.06.2017
Oil Stocks Outlook for the week - 12 to 16.06.2017
( www.rupeedesk.in )
Stocks of public sector oil refiners and retailers are expected to continue seeing a downward trend
during next week. The market share of these companies has been hit by greater competition from
private sector retailers, which weighed on their shares this week. The government's move to allow oil marketing companies to revise prices of auto fuels daily is expected to boost their margins in the long run. The daily price revision is expected to be implemented from Jun 16. Now, the daily rise or fall in prices of crude oil purchased would be reflected in the prices they charge customers for fuel. A report on Wednesday by the US Department of Energy showed a sharp rise in inventories of crudeoil and its products. This weighed on crude prices and could mean that a planned cut in output by the Organization of the Petroleum Exporting Countries would not have the desired effect of curbing a price fall. A fall in crude prices could weigh on the share prices of upstream players such as Oil and
Natural Gas Corp and Oil India.
Source : Cogencis Information Services Ltd.
( www.rupeedesk.in )
Stocks of public sector oil refiners and retailers are expected to continue seeing a downward trend
during next week. The market share of these companies has been hit by greater competition from
private sector retailers, which weighed on their shares this week. The government's move to allow oil marketing companies to revise prices of auto fuels daily is expected to boost their margins in the long run. The daily price revision is expected to be implemented from Jun 16. Now, the daily rise or fall in prices of crude oil purchased would be reflected in the prices they charge customers for fuel. A report on Wednesday by the US Department of Energy showed a sharp rise in inventories of crudeoil and its products. This weighed on crude prices and could mean that a planned cut in output by the Organization of the Petroleum Exporting Countries would not have the desired effect of curbing a price fall. A fall in crude prices could weigh on the share prices of upstream players such as Oil and
Natural Gas Corp and Oil India.
Source : Cogencis Information Services Ltd.
