Why OMC stocks are falling despite fuel price hike
Shares of state-run oil marketing companies (OMCs) such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), and Indian Oil Corporation (IOCL) have witnessed a decline of up to 3% today.
Crude oil prices drop nearly 5% to 4-month low
Crude oil prices plummeted nearly 5%, hitting a four-month low on November 16. This price drop comes amid an increase in US crude oil inventories, a rebound in US treasury yields, and global oil demand concerns.
February fuel demand in India highest since 1998
