NEW DELHI, Nov. 21 -- Indian public sector oil marketing companies (OMCs) are set to post more than 50% growth in operating profits in the current financial year (FY26), reaching $18-20 per barrel, driven by strong marketing margins, according to a Crisil Ratings report released on Friday.

The report estimates that higher profits will boost cumulative cash accruals to Rs.75,000-80,000 crore this fiscal, up from Rs.55,000 crore in FY25. This comes as Indian OMCs navigate a volatile oil market, including US sanctions on Russian suppliers Rosneft and Lukoil, effective from Friday.

"This fiscal, the improvement in marketing margins will more than offset a moderation in refining margins due to slower global fossil fuel demand amid the energy...