{"id":568041,"date":"2023-04-05T10:48:51","date_gmt":"2023-04-05T05:18:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=568041"},"modified":"2023-04-05T10:48:51","modified_gmt":"2023-04-05T05:18:51","slug":"fuel-retailer-stocks-slide-on-crude-production-cut","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/fuel-retailer-stocks-slide-on-crude-production-cut\/","title":{"rendered":"Fuel retailer stocks slide on crude production cut"},"content":{"rendered":"<p>MUMBAI: Stock prices of oil marketing companies like Bharat Petroleum, Hindustan Petroleum and Indian Oil slid on Monday, while that of producers like ONGC and Oil India rallied after the Opec+ block of major crude exporters globally decided on Sunday for a surprise production cut from May.<\/p>\n<p>The decision could push up oil prices globally, which in turn may force domestic refiners to absorb some extra costs since raising petroleum product prices ahead of elections could be a challenging decision, analysts said.<\/p>\n<p>In Monday&#8217;s volatile session on Dalal Street, HPCL closed 4.7% lower, while BPCL lost 4.1% and Indian Oil a marginal 0.6%. The slide in the stock prices of the downstream companies came as market players and analysts believe that the Opec+ decision is a negative development for these entities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Stock prices of oil marketing companies like Bharat Petroleum, Hindustan Petroleum and Indian Oil slid on Monday, while that of producers like ONGC and Oil India rallied after the Opec+ block of major crude exporters globally decided on Sunday for a surprise production cut from May. The decision could push up oil prices globally, which in turn may force domestic refiners to absorb some extra costs since raising petroleum product prices ahead of elections could be a challenging decision, analysts said. In Monday&#8217;s volatile session on Dalal Street, HPCL closed 4.7% lower, while BPCL lost 4.1% and Indian Oil [&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":[130,219,137],"tags":[],"class_list":["post-568041","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/568041","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=568041"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/568041\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=568041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=568041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=568041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}