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Motilal Oswal Report
Oil India Ltd.'s oil and gas sales were 14% lower YoY and 5% QoQ, with net realization at 42.7/barrel of oil U.S. dollar, in line with a decline in crude prices.
Lower other expenditure led to the beat on Ebitda, while further cost incurred to control the blowout at the Baghjan field is recorded as an exceptional item.
A lag is seen in global demand recovery for crude oil. Crude oil was expected to recover to approximately 97% of pre-Covid-19 levels over October-December 2020 (as per July 2020 forecasts).
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