Meaningful recovery in oil realizations key for ONGC's earnings growth
Click here to read full article from source
New Delhi, Jan. 13 -- ONGC has seen some ray of hope with rising oil prices that are likely to support its net oil realization and, in turn, earnings. Volatility in crude prices during 2020 amid the pandemic-led disruption had impacted ONGC earnings prospects significantly. The crude prices now are close to an 11-month high. This is improving ONGC's outlook. Sustaining the levels, however, remains crucial.
The Brent crude oil future prices that ranged $37-40/barrel at the start of the December quarter, though volatile, however, moved to around $52/barrel by end of the quarter. The start of January has seen a further tightening of supplies by oil-producing nations. Thus, the crude prices remain firm and Brent crude oil futures are now tra...
To read the full article or to get the complete feed from this publication, please Contact Us