Lower crude prices may boost the earnings of OMCs Indian Oil Corp. Ltd (IOC), Bharat Petroleum Corp. Ltd (BPCL), and Hindustan Petroleum Corp. Ltd (HPCL), which had incurred significant losses due to elevated crude prices. The integrated margin (marketing plus refining segments) of OMCs, including LPG under-recoveries, has risen to $15-17 per barrel ( ₹8.9-10.0 per litre), according to a 15 June Nomura Global Market Research report.
