Oil Stocks

The US EIA forecasts Brent crude prices to average $74 per barrel in CY25, down 8 per cent Y-o-Y and to decline to $66 per barrel in CY26

The FY26 budget has allocated Rs 12,100 crore for LPG subsidiary, far lower than the anticipated value

Brent crude futures climbed $1.48, or 1.86 per cent, to $81.24 a barrel by 0113 GMT after hitting an intraday high of $81.49, the highest since August 27

Japan's Nikkei slumped 1.5per cent as of 0022 GMT, while South Korea's KOSPI dropped 1.3per cent and Australia's benchmark lost 0.3 per cent

While upstream earnings are currently impacted, with the OPEC+ delaying its planned rise in production, analysts at Prabhudas Lilladher expect oil prices to rebound to $75-80 per barrel soon.

The board of Oil India has fixed Tuesday, July 2, 2024 as record date to determine the eligibility of shareholders to receive bonus shares in the ratio of 1:2.

The initial public offer (IPO) of Gandhar Oil Refinery had received good response from the investors and was subscribed 65.63 times.

Is there light at the end of the tunnel for tech sector workers? What will India becoming the third largest economy mean for you? Should you buy stocks of oil explorers? Who are the OBCs? Answers here

These stocks can gather steam provided crude prices soften and the government policies remain supportive. Here are the key levels one needs to monitor for these stocks.

Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.

Energy-related stocks remain the best hedge against a Ukraine-triggered spike in energy / oil prices, Wood said

Oil & Natural Gas Corporation and Reliance Industries can rise up to 8 per cent

The reduction of windfall tax will reduce cess of domestic oil production companies like ONGC and Oil India.

The Mukesh Ambani-led RIL has cautioned against the impact of global economic headwinds on energy demand, in its post-results conference call.

From the high of $120 per barrel in June to the low of $75 per barrel in December, Brent crude oil prices have literally gone up and down. What will guide oil prices in 2023?

The tax on crude oil produced by firms such as state-owned ONGC was reduced to Rs 4,900 per tonne from Rs 10,200 per tonne w.e.f December 02, 2022.

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

Current trend in global oil & gas prices augurs well for ONGC, according to analysts.

Stocks to Watch Today: Oil related shares are likely to be in focus on Tuesday as the oil ministry sought a review of the windfall profit tax on domestically produced crude oil.