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  • 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