OPEC Decision To Hike Output Will Not Affect Marketing Margins, HPCL Says

OPEC Decision To Hike Output Will Not Affect Marketing Margins, HPCL Says
The Hindustan Petroleum Corp. logo is displayed at a gas station in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

State-run Hindustan Petroleum Corporation Ltd. does not expect any significant variation in gross marketing margins after the OPEC and its allies agreed on an oil-production increase.

The Organization of Petroleum Exporting Countries agreed on a “nominal” production increase of 1 million barrels a day, Saudi Energy Minister Khalid Al-Falih told reporters in Vienna on Friday. In real terms, that would add 600,000 to 700,000 barrels a day of crude to the market over about six months, said Oman's Oil Minister Mohammed Al Rumhy.

Watch the full interaction with HPCL Director-Finance J Ramaswamy here:

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