JM Financial expects oil prices to stabilise around $70; favours ONGC, Oil India over OMCs
Following the recent decline in crude oil prices to below USD 70 per barrel, JM Financial Institutional Securities expects Brent to stabilise around these levels. Amid this backdrop, the brokerage firm prefers upstream oil companies like ONGC and Oil India over oil marketing companies (OMCs), maintaining a cautious stance on the latter despite improved valuations. … Read more