JPM-India Oil and Gas Russian crude and India：To buy or not to buy-20250804
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摘要原文摘录Reports initially suggested India had stopped buying Russian crude. Newer ones,however, say that purchases continue. Should India stop, most refiners will seelower GRM (with HPCL…
研究对象采掘
发布机构摩根大通
分析师Sanjay Mookim,Atishy Rathi
发布日期2025-08-04
原始报告提供原始报告入口
机构观点归属摩根大通，研报雷达仅作摘要整理与机构观点聚合。以下为研报摘要原文摘录，内容以原始报告为准。
研究对象采掘
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公司共识评级样本不足近 180 天暂无有效评级
一致目标价样本不足近 180 天暂无有效目标价
研报摘要
摘要原文以原始报告为准
Reports initially suggested India had stopped buying Russian crude. Newer ones,however, say that purchases continue. Should India stop, most refiners will seelower GRM (with HPCL the most exposed amongst OMCs). Additionally, higheroil prices can hurt OMCs’ marketing margins as well. While we like the OMCs(BPCL top pick) on eventual weaker crude, this uncertainty could be a near-termoverhang. Reliance (OW) on the other hand, can benefit from higher crude prices.
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