Oil explorers have edge over marketers as crude boils

Mumbai: Investors prefer oil exploration and production companies over marketers even after the increase in retail prices of petrol and diesel for the first time since November, said analysts.

While the move removes an overhang of marketing losses of over ₹12 per litre being borne by oil marketing and upstream companies, analysts said upstream companies such as Oil India, GAIL India and Oil & Natural Gas Corp are on a stronger footing because of elevated crude oil and gas prices.