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IDBI Capital: Energy Sector Check - Higher Crude Oil Price, Lower Gross Refining Margin

Crude oil prices improved in November due to a recovery in demand and positive news on a likely covid vaccine.

Oil storage tanks stand at the oil refinery in Incheon, South Korea. (Photographer: SeongJoon Cho/Bloomberg)
Oil storage tanks stand at the oil refinery in Incheon, South Korea. (Photographer: SeongJoon Cho/Bloomberg)
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