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ICICI Securities Report
Key trends in oil and gas sector in Q4 FY21 were -
1. Dubai and Brent crude were up 19-20% YoY at $59.7-60.7/barrel of oil.
2. Domestic gas price was at $2.0/metric million British thermal unit (10 year low).
3. Reuters' Singapore gross refining margin was at a six-quarter high of $1.8/barrel of oil.
4. Auto fuel net marketing margin was down 61% YoY at Rs 1.2/litre.
5. Auto fuel demand was up 6% YoY and total product demand up 2% YoY in Q4 FY21.
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