Saudi Aramco CEO Amin Nasser warned that the global oil market will not quickly bounce back after a major supply shock. He said roughly one billion barrels have been lost over the past two months. Even if crude flows restart, Nasser expects the market to stay unsettled before fully normalizing, extending pain for prices and consumers.
Indian oil companies are taking heavy hits as crude oil prices stay elevated, slashing marketing margins on petrol and diesel. LPG is expected to see under-recoveries of around Rs 80,000 crore this fiscal, while fertiliser subsidies are also forecast to rise. Profitability across energy-linked sectors could worsen unless global tensions ease and supply chains normalize.
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