OMCs get a breather from cooling oil prices, but the coast is not all clear (opens original article in a new tab)

Indian oil marketing companies (OMCs) benefit from falling Brent crude prices below $80 per barrel, but risks from US-Iran negotiations and market volatility persist.

• Brent crude prices fell below $80 per barrel, down from $94 on 10 June and $116.8 on 9 March.
• Indian OMCs may see improved earnings due to lower crude prices, but risks remain from US-Iran negotiations and potential policy changes.
• Global oil inventory is 1 billion barrels lower than pre-war levels, with prices expected to drop to $70 per barrel by end-FY27 if the US-Iran deal holds.