.jpg?downsize=773:435 "Every $1 Increase In Crude Boosts Sales By Rs 1,000 Crore Annually")
Workers use a bucket to collect a sample of crude oil (Photographer: Andrey Rudakov/Bloomberg)
For every $1 change in crude oil prices, there is an impact of almost Rs 1,000 crore over the full year in revenues, AK Srinivasan, former finance director at Oil & Natural Gas Corp. Ltd., told BloombergQuint.
The state-run oil explorer gained as much as 3.1 percent to Rs 205.50 in intraday, as crude oil traded near the highest close in more than two years, amid political disruption in Saudi Arabia.
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