Why oil refiners remain in focus in India
NEW DELHI: Indian refiners would remain in focus as crude prices are rising, according to an exclusive research by ET Now.
“Firstly, crude prices have again started to rise. Secondly, Russia will be reducing its crude output. And the third reason is that Singapore’s gross refining margins are on a falling trend,” ET Now reported.
In January, India had procured nearly 30% of its crude requirement from Russia. In November 2022, India has sourced nearly 22% of its crude requirement, which has increased now to 30%.
