in Oil Market Companies (OMC) closed in negative circuit on Wednesday as Brent crude
oil surged about 1 percent at USD 60 a barrel. The rise in crude oil prices was
on the back of buoyancy concerning the truce in the trade war with the US and
addition, a decrease in supply started at the end of 2018 by the OPEC plus
non-OPEC member Russia which kept crude oil prices put on a pedestal.
OMC’s shares such as of Hindustan Petroleum Corp (HPCL) declined 3.95 percent at Rs. 238.15 per share, Bharat Petroleum Corp (BPCL) plunged an extent of 3.40 percent at Rs. 340 per share and Indian Oil Corp (IOC) fell 1.49 percent to Rs. 132 per share, in trade today.
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