Energy & Petrochemicals #crude oil#petrol
OMCs to Break Even on Petrol, Diesel in 7–10 Days as Brent Crude Falls to $72
Global crude oil prices have dropped to four-month lows, with Brent around $72/bbl, offering relief to Indian OMCs that could break even on petrol and diesel within 7–10 days. OPEC+ announced a 188,000 bpd output hike for August, the fifth consecutive monthly increase since the West Asia conflict began. State-run OMCs have absorbed over Rs 75,000 crore in losses in Q1, but lower crude prices and rising supply may enable recovery over 6–12 months.
Jul 6, 2026 1 source