GRMs of OMCs to decline from the highs of Q1: Fitch Ratings
While rating agency Fitch Ratings expects petroleum demand growth to pick up to 7-8 per cent in FY23 from 5 per cent in FY22, gross refining margins are seen declining. “Fitch expects core gross refining margins (GRMs) to moderate from the highs of 1QFY23 but remain close to mid-cycle levels in 2HFY23, benefitting from supportive … Read more