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OMC stocks under pressure over demand outlook, price risks; HPCL emerges Motilal's preferred pick: Here's why
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Motilal Oswal Financial Services highlighted that the oil demand growth is estimated at one million barrels per day (mbd) while global oil supply growth is estimated at 1.8 mb/d. ‘’With OPEC+ is looking to unwind spare production capacity, we see some risk to net realizations of $ 73-74/bbl for upstream companies in CY25.
We think that the best way to play in a range-bound oil price environment with rising downside risks is oil marketing companies, where HPCL is our preferred pick.'' said the brokerage. Milestone Alert!
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