Q2FY22 Result Preview - Oil & Gas - ICICI Direct

Global crude oil prices are currently trading near three-year highs. Brent crude oil prices on a closing basis increased US$3.7/bbl QoQ to US$78.8/bbl in Q2FY22E. Oil prices corrected at the start of August due to possible drop in global demand and Opec+ decision to reduce production cuts. August-end onwards oil prices soared due to lower production post Hurricane Ida and lower-than-expected increase in production in August. Subsequently, average crude oil prices increased by US$4.4/bbl to US$73/bbl. Hence, net realisations of upstream companies will improve QoQ as well as YoY.

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Source : Equity Bulls

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Q2FY22 ResultPreview ICICIDirect Oil Gas