Oil Stocks Outlook For The Week - 19 To 22.11.2018
Stocks of public sector refiners and retailers--Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd are expected to trade in a narrow range next week. Stocks of upstream players such as Oil and Natural Gas Corp Ltd and Oil India Ltd may see some weakness over the next few sessions. Apart from charts, stocks of oil companies--upstream as well as downstream--would be influenced by movements in international prices of crude oil and the dollar-rupees exchange rate. Crude oil contracts are likely to trade on a weaker note next week as higher inventory and record
production in the US have fanned concerns of an oversupply. In addition, production from top producers Saudi Arabia and Russia at record levels and a weak demand outlook due to an
impending global slowdown has further weighed on sentiment.
Source : Cogencis Information Services Ltd.
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Stocks of public sector refiners and retailers--Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd are expected to trade in a narrow range next week. Stocks of upstream players such as Oil and Natural Gas Corp Ltd and Oil India Ltd may see some weakness over the next few sessions. Apart from charts, stocks of oil companies--upstream as well as downstream--would be influenced by movements in international prices of crude oil and the dollar-rupees exchange rate. Crude oil contracts are likely to trade on a weaker note next week as higher inventory and record
production in the US have fanned concerns of an oversupply. In addition, production from top producers Saudi Arabia and Russia at record levels and a weak demand outlook due to an
impending global slowdown has further weighed on sentiment.
Source : Cogencis Information Services Ltd.
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