- 12 Apr 2022
- ICICI Securities
Oil prices decline ~4% on Monday
News: Oil prices declined ~4% on Monday amid news reports regarding release of reserve oil by IEA members and concern over demand decline in China
Views: Oil prices are currently trading at US$ 100/bbl after they peaked at US$139/bbl in the initial period of March. If oil prices fall further, it will reduce realisation for upstream companies whereas OMCs will benefit from reduction in raw material costs
Impact: Neutral