IOC, HPCL to BPCL: Brent crude tops $82/bbl — How rising crude oil prices can impact OMCs’ margins & earnings
Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), and Bharat Petroleum Corporation (BPCL) — the state-run oil marketing companies (OMCs) — are likely to take a hit on auto fuel marketing margins if crude oil prices stay elevated in the near term. The US-Israel attacks on Iran and the counterattacks by Tehran have driven crude…