{"id":341143,"date":"2020-03-11T10:31:33","date_gmt":"2020-03-11T05:01:33","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341143"},"modified":"2020-03-11T10:31:33","modified_gmt":"2020-03-11T05:01:33","slug":"shares-of-oil-retailers-rise-explorers-fall-as-crude-goes-below-28-bbl","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/shares-of-oil-retailers-rise-explorers-fall-as-crude-goes-below-28-bbl\/","title":{"rendered":"Shares of oil retailers rise, explorers fall as crude goes below $28\/bbl"},"content":{"rendered":"<p>MUMBAI: Shares of refining and oil marketing companies rose up to 13% intraday on Monday as global crude oil prices plunged. Shares of Bharat Petroleum Corporation Ltd (BPCL) gained as much as 12.7% to hit a high of \u20b9454.10, Hindustan Petroleum Corporation (HPCL) was higher by 12.8% to \u20b9226.60 while Indian Oil Corporation (IOC) rose 4.42% to \u20b9105.25 during the day.<\/p>\n<p>Oil prices plunged more than 30% after the Organization of the Petroleum Exporting Countries failed to strike a deal with its allies including Russia, the most important of them all. This caused Saudi Arabia, the most dominant partner in the oil cartel, to slash prices as well as commit to raising production, leading to fears of an all-out price war.<\/p>\n<p>Lower crude prices are expected to improve gross refining margins (GRM) at oil refiners. According to analysts at ICICI Securities, oil price remaining at current levels or weakening further would support GRMs and limit the hit to GRM from the demand shock caused by the coronavirus epidemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Shares of refining and oil marketing companies rose up to 13% intraday on Monday as global crude oil prices plunged. Shares of Bharat Petroleum Corporation Ltd (BPCL) gained as much as 12.7% to hit a high of \u20b9454.10, Hindustan Petroleum Corporation (HPCL) was higher by 12.8% to \u20b9226.60 while Indian Oil Corporation (IOC) rose 4.42% to \u20b9105.25 during the day. Oil prices plunged more than 30% after the Organization of the Petroleum Exporting Countries failed to strike a deal with its allies including Russia, the most important of them all. This caused Saudi Arabia, the most dominant partner in [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-341143","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=341143"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341143\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}