摩根士丹利：印度 – 能源_跟踪利润率
能源基金会·2024-10-24 10:13
M Update India – Energy | Asia Pacific October 20, 2024 08:08 AM GMT Tracking Margins India's fuel prices are benchmarked to US$80/bbl; we do not expect fuel cuts. Well-supplied oil markets with potential for more surplus supply should continue to tailwind expectations, despite recent investor concerns ahead of state elections. Prefer HPCL and BPCL. Exhibit 1: Integrated margins improve as crude discounts widen; cooking gas losses unwind and oil markets remain well supplied; a street upgrade cycle is ahead ...