Oil
Stocks Outlook for the week – 14 to 18.09.2015
(Seen in range next week, refiners preferred)
Stocks
of public sector oil marketing companies as well as producers are seen trading
in a range next week. They will mostly track the rupee-dollar movements and
those in crude oil prices. The trend in the benchmark gross refining margins
would be another factor for the refining and marketing companies.
Prices
of crude oil are yet to stabilise and analysts believe that the outlook for the
commodity
remains
weak as all major oil producing regions--Russia, the US and the countries part
of The
Organization
of Petroleum Exporting Countries--continue to pump high quantities.
A
sharp decline in oil prices would spell trouble for both oil producing
companies and refiners.
Stocks
of Oil and Natural Gas Corp Ltd and Oil India Ltd will closely track oil prices
and are seen weak in near term.
